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Revealed Preference Foundations of Expectations-Based Reference-Dependence

David Freeman ()

Discussion Papers from Department of Economics, Simon Fraser University

Abstract: This paper provides revealed preference foundations for a model of expectations based reference-dependence a la Koszegi and Rabin (2006). Novel axioms provide distinguishing features of expectations-based reference-dependence under risk. The analysis completely characterizes the model’s testable implications when expectations are unobservable.

Keywords: Reference-dependent preferences; expectations as the reference point; preferred personal equilibrium; choice under risk (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Pages: 51
Date: 2013-09
New Economics Papers: this item is included in nep-dcm, nep-mic and nep-upt
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