Reference-Dependent Consumption Plans

By B. Kőszegi, Matthew Rabin. 2009

584 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/ca81d03d99eb571fbdf870b9eb53171a38d92c85

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Citations in the corpus

Preferences for One-Shot Resolution of Uncertainty and Allais-Type Behavior (2008, background): “Köszegi and Rabin (2009) studied a model in which utility additively depends both on current consumption and on recent changes in (rational) beliefs about present and future consumption, where the latter component displays loss aversion.”
Prospect Theory and Stock Returns: An Empirical Test (2016, background): “We give the prospect theory investors a two-part demand function, one where k 1, in order to follow a principle proposed by Koszegi and Rabin (2006, 2009) among others, namely that researchers should model behavioral agents as making decisions based on both traditional and non-traditional…”
Present Bias: Lessons Learned and To Be Learned† (2015, unknown): “New York: Russell Sage Foundation.”
The Liquid Hand-to-Mouth: Evidence from Personal Finance Management Software (2018, background): “In a one-asset environment, Koszegi and Rabin (2009) show that, in an environment with little to no uncertainty, agents with reference-dependent preferences may consume entire windfall gains.”
The ostrich effect: Selective attention to information (2009, background): “Recent economic models also incorporate information and beliefs directly in utility via anticipation ( Koszegi and Rabin 2007; Caplin and Leahy 2001 ;L oewenstein1987), self-image or ego (Benabou and Tirole 2006 ;B odner and Prelec 2001 ;K oszegi1999), and recursive preferences that depend on belie”
Expectations as Endowments: Evidence on Reference-Dependent Preferences from Exchange and Valuation Experiments (2011, background): “…view that reference points are determined by recent expectations about outcomes, which need not correspond to the status quo, has been advocated by Kőszegi and Rabin (2006, 2007, 2009) (henceforth KR).2 Since the status quo often determines expectations, the two alternatives are sometimes…”