Arbeitspapier
Local Status and Prospect Theory
People are sometimes risk-averse in gains but risk-loving in losses. Such behavior and other anomalies underlying prospect theory arise from a model of local status maximization in which consumers compare their wealth with other consumers of similar wealth. This social explanation shares key features with the psychological explanation o.ered by Kahneman and Tversky.
- Sprache
-
Englisch
- Erschienen in
-
Series: Claremont Colleges Working Papers in Economics ; No. 2000-38
- Klassifikation
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Consumer Economics: Theory
- Thema
-
prospect theory
status
reference group
loss aversion
risk loving
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Harbaugh, Rick
Kornienko, Tatiana
- Ereignis
-
Veröffentlichung
- (wer)
-
Claremont McKenna College, Department of Economics
- (wo)
-
Claremont, CA
- (wann)
-
2000
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Harbaugh, Rick
- Kornienko, Tatiana
- Claremont McKenna College, Department of Economics
Entstanden
- 2000
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