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The Formation of Reference Points in Consumer Choice Behavior: Experimental Evidence from a Fish Market in Nigeria

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  • Shikuku, Kelvin Mashisia
  • Bulte, Erwin
  • Lagerkvist, Carl Johan
  • Tran, Nhuong

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  • Shikuku, Kelvin Mashisia & Bulte, Erwin & Lagerkvist, Carl Johan & Tran, Nhuong, 2021. "The Formation of Reference Points in Consumer Choice Behavior: Experimental Evidence from a Fish Market in Nigeria," 2021 Conference, August 17-31, 2021, Virtual 314964, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaae21:314964
    DOI: 10.22004/ag.econ.314964
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    References listed on IDEAS

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    2. Johannes Abeler & Armin Falk & Lorenz Goette & David Huffman, 2011. "Reference Points and Effort Provision," American Economic Review, American Economic Association, vol. 101(2), pages 470-492, April.
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    4. Vincent P. Crawford & Juanjuan Meng, 2011. "New York City Cab Drivers' Labor Supply Revisited: Reference-Dependent Preferences with Rational-Expectations Targets for Hours and Income," American Economic Review, American Economic Association, vol. 101(5), pages 1912-1932, August.
    5. Ori Heffetz & John A. List, 2014. "Is The Endowment Effect An Expectations Effect?," Journal of the European Economic Association, European Economic Association, vol. 12(5), pages 1396-1422, October.
    6. Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 1039-1061.
    7. Uri Simonsohn & George Loewenstein, 2006. "Mistake #37: The Effect of Previously Encountered Prices on Current Housing Demand," Economic Journal, Royal Economic Society, vol. 116(508), pages 175-199, January.
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    16. Keith M. Marzilli Ericson & Andreas Fuster, 2011. "Expectations as Endowments: Evidence on Reference-Dependent Preferences from Exchange and Valuation Experiments," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(4), pages 1879-1907.
    17. Smith, Alec, 2019. "Lagged beliefs and reference-dependent utility," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 331-340.
    18. Wenner, Lukas M., 2015. "Expected prices as reference points—Theory and experiments," European Economic Review, Elsevier, vol. 75(C), pages 60-79.
    19. Erwin Bulte & John A List & Daan van Soest, 2020. "Toward an Understanding of the Welfare Effects of Nudges: Evidence from a Field Experiment in the Workplace," The Economic Journal, Royal Economic Society, vol. 130(632), pages 2329-2353.
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