Three distinct frameworks have been advanced by scholars to analyze organizational
aspirations: behavioral theory, Ansoff's strategic management view, and strategic reference …

Theories of reference-dependent preferences propose that individuals evaluate outcomes
as gains or losses relative to a neutral reference point. We test for reference dependence in …

Risk is an integral part of many economic decisions and is vitally important in finance.
Despite extensive research on decision making under risk, little is known about how risks …

Simple Heuristics in a Social World invites readers to discover the simple heuristics that
people use to navigate the complexities and surprises of environments populated with …

This study explores people׳ s risk taking behaviour after having suffered large real-world
losses following a natural disaster. Using the margins of the 2011 Australian floods …

Finance is in the midst of a paradigm shift, from a neoclassical based framework to a
psychologically based framework. Behavioral finance is the application of psychology to …

Although reference dependence plays a central role in explaining behavior, little is known
about the way that reference points are selected. This paper identifies empirically which …

We study the effects of time pressure on risky decisions for pure gain prospects, pure loss
prospects, and mixed prospects involving both gains and losses. In two experiments we find …

The tri-reference point (TRP) theory takes into account minimum requirements (MR), the
status quo (SQ), and goals (G) in decision making under risk. The 3 reference points …

This paper develops axiomatically a revealed preference theory of reference-dependent
choice behavior. Instead of taking the reference for an agent as exogenously given in the …