메뉴 건너뛰기




Volumn 121, Issue 1, 2005, Pages 1-29

Rational choice with status quo bias

Author keywords

Endowment effect; Expected utility; Incomplete preferences; Overpricing; Preference reversal phenomenon; Revealed preferences; Status quo bias

Indexed keywords


EID: 13944258604     PISSN: 00220531     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jet.2004.03.007     Document Type: Article
Times cited : (211)

References (35)
  • 1
    • 0000927920 scopus 로고
    • Rational choice functions and orderings
    • K. Arrow Rational choice functions and orderings Economica 26 1959 121-127
    • (1959) Economica , vol.26 , pp. 121-127
    • Arrow, K.1
  • 2
    • 0000541635 scopus 로고
    • Utility theory without the completeness axiom
    • R. Aumann Utility theory without the completeness axiom Econometrica 30 1962 445-462
    • (1962) Econometrica , vol.30 , pp. 445-462
    • Aumann, R.1
  • 3
    • 0003536496 scopus 로고
    • Knightian uncertainty theory: Part I
    • Cowles Foundation Discussion Paper No. 807
    • T. Bewley, Knightian uncertainty theory: Part I, Cowles Foundation Discussion Paper No. 807, 1986
    • (1986)
    • Bewley, T.1
  • 4
    • 0003536496 scopus 로고
    • Knightian uncertainty theory: Part II
    • Cowles Foundation Discussion Paper No. 835
    • T. Bewley, Knightian uncertainty theory: Part II, Cowles Foundation Discussion Paper No. 835, 1987
    • (1987)
    • Bewley, T.1
  • 6
    • 0002340332 scopus 로고
    • Individual decision making
    • J. Kagel A. Roth (Eds.). Princeton University Press Princeton
    • C. Camerer Individual decision making, in: J. Kagel A. Roth (Eds.). Handbook of Experimental Economics 1995 Princeton University Press Princeton
    • (1995) Handbook of Experimental Economics
    • Camerer, C.1
  • 7
    • 0000725441 scopus 로고
    • Preference reversals without the independence axiom
    • J. Cox S. Epstein Preference reversals without the independence axiom Amer. Econ. Rev. 79 1989 408-426
    • (1989) Amer. Econ. Rev. , vol.79 , pp. 408-426
    • Cox, J.1    Epstein, S.2
  • 8
    • 1442330983 scopus 로고    scopus 로고
    • Expected utility theory without the completeness axiom
    • J. Dubra F. Maccheroni E.A. Ok Expected utility theory without the completeness axiom J. Econ. Theory 115 2004 118-133
    • (2004) J. Econ. Theory , vol.115 , pp. 118-133
    • Dubra, J.1    Maccheroni, F.2    Ok, E.A.3
  • 10
    • 84982438110 scopus 로고
    • Economic theory of choice and the preference reversal phenomenon
    • D. Grether C. Plott Economic theory of choice and the preference reversal phenomenon Amer. Econ. Rev. 69 1979 623-638
    • (1979) Amer. Econ. Rev. , vol.69 , pp. 623-638
    • Grether, D.1    Plott, C.2
  • 11
    • 0001549151 scopus 로고
    • Consumer rationality and the status quo
    • R. Hartman M. Doane C.-K. Woo Consumer rationality and the status quo Quart. J. Econ. 106 1991 141-162
    • (1991) Quart. J. Econ. , vol.106 , pp. 141-162
    • Hartman, R.1    Doane, M.2    Woo, C.-K.3
  • 12
    • 0001068763 scopus 로고
    • Preference reversals and the independence axiom
    • C. Holt Preference reversals and the independence axiom Amer. Econ. Rev. 76 1986 508-515
    • (1986) Amer. Econ. Rev. , vol.76 , pp. 508-515
    • Holt, C.1
  • 14
    • 84936526580 scopus 로고
    • Experimental tests of the endowment effect and the Coase theorem
    • D. Kahneman J. Knetsch R. Thaler Experimental tests of the endowment effect and the Coase theorem J. Polit. Econ. 98 1990 1325-1348
    • (1990) J. Polit. Econ. , vol.98 , pp. 1325-1348
    • Kahneman, D.1    Knetsch, J.2    Thaler, R.3
  • 15
    • 0001331917 scopus 로고
    • The endowment effect, loss aversion, and status quo bias
    • D. Kahneman J. Knetsch R. Thaler The endowment effect, loss aversion, and status quo bias J. Econ. Perspect. 5 1991 193-206
    • (1991) J. Econ. Perspect. , vol.5 , pp. 193-206
    • Kahneman, D.1    Knetsch, J.2    Thaler, R.3
  • 16
    • 0001644358 scopus 로고
    • 'Preference reversal' and the observability of preferences by experimental methods
    • E. Karni Z. Safra 'Preference reversal' and the observability of preferences by experimental methods Econometrica 55 1987 675-685
    • (1987) Econometrica , vol.55 , pp. 675-685
    • Karni, E.1    Safra, Z.2
  • 17
    • 0000615794 scopus 로고
    • The endowment effect and evidence of nonreversible indifference curves
    • L. Knetsch The endowment effect and evidence of nonreversible indifference curves Amer. Econ. Rev. 79 1989 1277-1284
    • (1989) Amer. Econ. Rev. , vol.79 , pp. 1277-1284
    • Knetsch, L.1
  • 19
    • 0000498749 scopus 로고
    • Observing violations of transitivity by experimental methods
    • G. Loomes C. Starmer R. Sugden Observing violations of transitivity by experimental methods Econometrica 59 1991 425-439
    • (1991) Econometrica , vol.59 , pp. 425-439
    • Loomes, G.1    Starmer, C.2    Sugden, R.3
  • 20
    • 0039888638 scopus 로고    scopus 로고
    • The power of suggestion: Inertia in 401(k) participation and savings behavior
    • B. Madrian D. Shea The power of suggestion: Inertia in 401(k) participation and savings behavior Quart. J. Econ. 116 2001 1149-1187
    • (2001) Quart. J. Econ. , vol.116 , pp. 1149-1187
    • Madrian, B.1    Shea, D.2
  • 21
    • 11244333440 scopus 로고    scopus 로고
    • Incomplete preferences and rational intransitivity of choice
    • forthcoming
    • M. Mandler, Incomplete preferences and rational intransitivity of choice, Games Econ. Behav., forthcoming
    • Games Econ. Behav.
    • Mandler, M.1
  • 22
    • 0036288758 scopus 로고    scopus 로고
    • Utility representation of an incomplete preference relation
    • E.A. Ok Utility representation of an incomplete preference relation J. Econ. Theory 104 2002 429-449
    • (2002) J. Econ. Theory , vol.104 , pp. 429-449
    • Ok, E.A.1
  • 23
    • 0033239137 scopus 로고    scopus 로고
    • Revealed group preferences on nonconvex choice problems
    • E.A. Ok L. Zhou Revealed group preferences on nonconvex choice problems Econ. Theory 13 1999 671-687
    • (1999) Econ. Theory , vol.13 , pp. 671-687
    • Ok, E.A.1    Zhou, L.2
  • 24
    • 0000399678 scopus 로고
    • Independence of irrelevant alternatives and revealed group preferences
    • H. Peters P. Wakker Independence of irrelevant alternatives and revealed group preferences Econometrica 59 1991 1787-1801
    • (1991) Econometrica , vol.59 , pp. 1787-1801
    • Peters, H.1    Wakker, P.2
  • 25
    • 0002309280 scopus 로고    scopus 로고
    • Psychology and economics
    • M. Rabin Psychology and economics J. Econ. Lit. 36 1998 11-46
    • (1998) J. Econ. Lit. , vol.36 , pp. 11-46
    • Rabin, M.1
  • 26
    • 11944268897 scopus 로고    scopus 로고
    • Anchored preference relations
    • UC-Berkeley: Mimeo
    • J. Sagi Anchored preference relations 2002 Mimeo UC-Berkeley
    • (2002)
    • Sagi, J.1
  • 28
    • 0000995909 scopus 로고
    • Does the preference reversal phenomenon necessarily contradict the independence axiom?
    • U. Segal Does the preference reversal phenomenon necessarily contradict the independence axiom? Amer. Econ. Rev. 78 1988 233-236
    • (1988) Amer. Econ. Rev. , vol.78 , pp. 233-236
    • Segal, U.1
  • 29
    • 1442355177 scopus 로고    scopus 로고
    • Multiperson utility
    • UCLA Working Paper 779
    • L. Shapley, M. Baucells, Multiperson utility, UCLA Working Paper 779, 1998
    • (1998)
    • Shapley, L.1    Baucells, M.2
  • 30
    • 84959810873 scopus 로고
    • A behavioral model of rational choice
    • H. Simon A behavioral model of rational choice Quart. J. Econ. 69 1995 99-118
    • (1995) Quart. J. Econ. , vol.69 , pp. 99-118
    • Simon, H.1
  • 31
    • 58149417531 scopus 로고
    • The relative importance of probabilities and payoffs in risk-taking
    • P. Slovic S. Lichtenstein The relative importance of probabilities and payoffs in risk-taking J. Exper. Psych. 78 1968 1-18
    • (1968) J. Exper. Psych. , vol.78 , pp. 1-18
    • Slovic, P.1    Lichtenstein, S.2
  • 32
    • 0001076162 scopus 로고
    • Loss aversion in riskless choice: A reference dependent model
    • A. Tversky D. Kahneman Loss aversion in riskless choice: A reference dependent model Quart. J. Econ. 106 1991 1039-1061
    • (1991) Quart. J. Econ. , vol.106 , pp. 1039-1061
    • Tversky, A.1    Kahneman, D.2
  • 34
    • 13944259309 scopus 로고
    • The dynamics and revealed preferences of status quo optimality
    • F. Vega-Redondo The dynamics and revealed preferences of status quo optimality Econ. Theory 6 1995 263-282
    • (1995) Econ. Theory , vol.6 , pp. 263-282
    • Vega-Redondo, F.1
  • 35
    • 0742274591 scopus 로고    scopus 로고
    • Revealed preferences and status quo effect
    • Mimeo, Duke University
    • L. Zhou, Revealed preferences and status quo effect, Mimeo, Duke University, 1997
    • (1997)
    • Zhou, L.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.