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Differentiating roles of the reference alternative

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  • Qin, Dan

Abstract

This article explores the behavioral implications of different roles of the reference alternative. We delineate the boundaries of three reference-dependent choice models, each associated with distinct behavioral patterns: the endowment effect model, the loss aversion model, and the reference-dependent shortlisting model. Furthermore, we demonstrate that the intersections of these models correspond to meaningful special cases within each model.

Suggested Citation

  • Qin, Dan, 2024. "Differentiating roles of the reference alternative," Games and Economic Behavior, Elsevier, vol. 146(C), pages 196-221.
    • Handle: RePEc:eee:gamebe:v:146:y:2024:i:c:p:196-221
    DOI: 10.1016/j.geb.2024.05.008
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