A Random Reference Model
提出两个嵌套的随机参照依赖选择模型，其中参照点由随机过程内生决定，并通过显示偏好方法识别参照依赖偏好和随机参照规则，最后应用于差异化产品的伯特兰竞争。
We provide two nested models of random reference-dependent choice in which the reference point is endogenously determined by random processes. Random choice behavior is due to random reference points, even though, from the decision-maker’s viewpoint, choices are deterministic. Through a revealed preference exercise, we establish when and how one can identify the reference-dependent preferences and the random reference rule from observed choice data. We also present behavioral postulates that characterize the empirical content of our models. Lastly, we investigate an application of our model to Bertrand competition with differentiated products.