Goals as Reference Points
Abstract
We argue that goals serve as reference points and alter outcomes in a manner consistent with the value function of Prospect Theory (Kahneman & Tversky, 1979; Tversky & Kahneman, 1992). We present new evidence that goals inherit the properties of the value function-not only a reference point, but also loss aversion and diminishing sensitivity. We also use the value function to explain previous empirical results in the goal literature on affect,...
Paper Details
Title
Goals as Reference Points
Published Date
Feb 1, 1999
Journal
Volume
38
Issue
1
Pages
79 - 109
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Notes
History