#ReferencePointTheory

Nick Byrd, Ph.D.ByrdNick@nerdculture.de
2024-02-22

Feelings about expectation-reality gaps depend on feelings about the expectation: If people like what's expected, negative changes matter more (#lossAversion), but if people dislike what's expected, positive changes matter more (#gainSeeking).

Mellers and Yin found this pattern in risky choices as well: doi.org/10.1177/17456916231190

#decisionScience #risk #economics #psychology #JDM #ReferencePointTheory

Pages 2 and 3 explaining and plotting the prior result.Pages 5 and 6 extending the result to judgments about two different jobs.Pages 7 and 8 extending the result to Tversky and Kahneman's classic disease problem.Pages 9 and 10 extending the result to a 50/50 gamble.

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