The gap between willingness-to-pay (WTP) and willingness-to-accept (WTA) benefit values typifies situations in which reference points—and direction of movement from reference points—are consequential.

This paper studies an inter-temporal model to understand the role of social security in determining intergenerational distribution and welfare when consumers have reference-dependent preferences. To ...

Last time, we began exploring some of the ways that our thought processes can impact our own decision-making (and be used to persuade other people too). Specifically, we looked at a dual-process model ...

Last time, we began exploring some of the ways that our thought processes can impact our own decision-making (and be used to persuade other people too). Specifically, we looked at a dual-process model ...