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Choice Problems with a "Reference" Point

Author Info

Listed author(s):
  • Rubinstein, A.
  • Zhou, L.

Abstract

In many decision scenarios, one has to choose an element from a set S given some reference point e. For the case where S is a subset of the Euclidean space , we axiomatize the choice method that selects the point in S that is closet to e.

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Paper provided by Tel Aviv in its series Papers with number 28-97.

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Length: 6 pages
Date of creation: 1997
Handle: RePEc:fth:teavfo:28-97
Contact details of provider: Postal:
Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.

Phone: 972-3-640-9255
Fax: 972-3-640-5815
Web page: http://econ.tau.ac.il/foerder/about
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Keywords: DECISION MAKING;

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Find related papers by JEL classification:
  • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
  • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

References listed on IDEAS
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  1. Chun, Youngsub & Thomson, William, 1992. "Bargaining problems with claims," Mathematical Social Sciences, Elsevier, vol. 24(1), pages 19-33, August.
  2. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
  3. P. L. Yu, 1973. "A Class of Solutions for Group Decision Problems," Management Science, INFORMS, vol. 19(8), pages 936-946, April.
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Cited by:

  1. Jose Apesteguia & Miguel Ballester, 2009. "A theory of reference-dependent behavior," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 40(3), pages 427-455, September.
  2. Riella, Gil & Teper, Roee, 2014. "Probabilistic dominance and status quo bias," Games and Economic Behavior, Elsevier, vol. 87(C), pages 288-304.
  3. Naumova, N. I., 2002. "Nonsymmetric equal sacrifice solutions for claim problem," Mathematical Social Sciences, Elsevier, vol. 43(1), pages 1-18, January.
  4. Andreas Tutić, 2015. "Revealed norm obedience," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 44(2), pages 301-318, February.
  5. Mark Dean & Ozgur Kibris & Yusufcan Masatlioglu, 2014. "Limited Attention and Status Quo Bias," Working Papers 2014-11, Brown University, Department of Economics.
  6. repec:eee:jetheo:v:169:y:2017:i:c:p:93-127 is not listed on IDEAS
  7. Sudhölter, Peter & Zarzuelo, José M., 2013. "Extending the Nash solution to choice problems with reference points," Games and Economic Behavior, Elsevier, vol. 80(C), pages 219-228.
  8. Carvajal, Andres & Ray, Indrajit & Snyder, Susan, 2004. "Equilibrium behavior in markets and games: testable restrictions and identification," Journal of Mathematical Economics, Elsevier, vol. 40(1-2), pages 1-40, February.
  9. Voorneveld, Mark & van den Nouweland, Anne & McLean, Rich, 2008. "An axiomatization of the Euclidean compromise solution," SSE/EFI Working Paper Series in Economics and Finance 703, Stockholm School of Economics.
  10. Forgo, F. & Szidarovszky, F., 2003. "On the relation between the Nash bargaining solution and the weighting method," European Journal of Operational Research, Elsevier, vol. 147(1), pages 108-116, May.
  11. BOSSERT, Walter & SUZUMURA, Kotaro, 2006. "Non-Deteriorating Choice without Full Transitivity," Cahiers de recherche 2006-13, Universite de Montreal, Departement de sciences economiques.
  12. Guney, Begum & Richter, Michael, 2015. "An experiment on aspiration-based choice," Journal of Economic Behavior & Organization, Elsevier, vol. 119(C), pages 512-526.
  13. M. Voorneveld & A. Nouweland & R. McLean, 2011. "Axiomatizations of the Euclidean compromise solution," International Journal of Game Theory, Springer;Game Theory Society, vol. 40(3), pages 427-448, August.
  14. Majumdar, Dipjyoti, 2004. "An axiomatic characterization of Bayes' Rule," Mathematical Social Sciences, Elsevier, vol. 47(3), pages 261-273, May.
  15. Francesco Farina & Eugenio Peluso & Ernesto Savaglio, 2005. "Ranking opportunity sets in the space of functionings," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 2(2), pages 105-116, January.
  16. Roee Teper, 2010. "Probabilistic Dominance and Status Quo Bias," Working Paper 5864, Department of Economics, University of Pittsburgh.

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