Reference Points and Effort Provision
Copyright policy )Reference Points and Effort Provision
A key open question for theories of reference-dependent preferences is: what determines the reference point? One candidate is expectations: what people expect could affect how they feel about what actually occurs. In a real-effort experiment, we manipulate the rational expectations of subjects and check whether this manipulation influences their effort provision. We find that effort provision is significantly different between treatments in the way predicted by models of expectation-based, reference-dependent preferences: if expectations are high, subjects work longer and earn more money than if expectations are low. (JEL D12, D84, J22)
- Max Planck Society Germany
- University of Bonn Germany
- University of Nottingham United Kingdom
- Ningbo University China (People's Republic of)
- University of Oxford United Kingdom
Reference Points, Expectations, Loss Aversion, Risk Aversion, Disappointment, Experiment, Economics and Econometrics, Test, 330, J22, Reference Points, Expectations, Loss Aversion, Disappointment, Experiment, disappointment, loss aversion, Experiment, Leistungsmotivation, reference points, expectations, loss aversion, risk aversion, disappointment, experiment, C91, Reference points, Disappointment; Expectations; Experiment; Loss Aversion; Reference Points; Risk Aversion, Reference Points, Loss Aversion, Reference Points; Expectations; Loss Aversion; Disappointment; Experiment, Disappointment, experiment, ddc:330, risk aversion, Expectations, Risikoaversion, reference points, Präferenztheorie, D84, Erwartungstheorie, D01, Verlust, expectations, jel: jel:D84, jel: jel:D01, jel: jel:J22, jel: jel:C91
Reference Points, Expectations, Loss Aversion, Risk Aversion, Disappointment, Experiment, Economics and Econometrics, Test, 330, J22, Reference Points, Expectations, Loss Aversion, Disappointment, Experiment, disappointment, loss aversion, Experiment, Leistungsmotivation, reference points, expectations, loss aversion, risk aversion, disappointment, experiment, C91, Reference points, Disappointment; Expectations; Experiment; Loss Aversion; Reference Points; Risk Aversion, Reference Points, Loss Aversion, Reference Points; Expectations; Loss Aversion; Disappointment; Experiment, Disappointment, experiment, ddc:330, risk aversion, Expectations, Risikoaversion, reference points, Präferenztheorie, D84, Erwartungstheorie, D01, Verlust, expectations, jel: jel:D84, jel: jel:D01, jel: jel:J22, jel: jel:C91
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