Expectations-based reference-dependent life-cycle consumption

DOI10.1093/RESTUD/RDX003MaRDI QIDQ4610848zbMATH OpenOpenAlexFDO

Authors Michaela Pagel

Publication date 23 January 2019

Published in Review of Economic Studies (Search for Journal in Brave)

Full work available at URL https://mpra.ub.uni-muenchen.de/47138/1/MPRA_paper_47138.pdf

zbMATH Keywords

excess smoothness and sensitivityexpectations-based reference-dependent preferenceslife-cycle consumption

Mathematics Subject Classification ID

Individual preferences (91B08) Consumer behavior, demand theory (91B42)

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Cited in

(18)

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• Transitory consumption, durability and different approaches to test the life cycle model
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• Intertemporal preference with loss aversion: consumption and risk-attitude
• English versus Vickrey auctions with loss-averse bidders
• The consumption-investment decision of a prospect theory household: a two-period model with an endogenous second period reference level
• Understanding time-inconsistent heterogeneous preferences in economics and finance: a practice theory approach
• Dynamic consumption and portfolio choice under prospect theory
• Affordable and adequate annuities with stable payouts: fantasy or reality?
• Expectations-based loss aversion in contests
• Loss aversion and consumption plans with stochastic reference points
• How Endogenization of the Reference Point Affects Loss Aversion: A Study of Portfolio Selection
• Dynamic information preference and communication with diminishing sensitivity over news
• Never say never: optimal exclusion and reserve prices with expectations-based loss-averse buyers
• The welfare costs of misinformation
• Asymmetric optimal auction design with loss-averse bidders
• Lifetime portfolio and consumption choice with defined contribution plans
• The participation puzzle with reference-dependent expected utility preferences

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