Managing anticipation and reference-dependent choice
构建了一个模型，将现状、理性预期和单一结果担忧等参照点来源统一为消费彩票结果的凸组合，并提出了新的参照依赖选择解概念，从选择数据层面进行刻画和参数识别。
Extensive field and experimental evidence shows that reference points shape behavior. But, what shapes the reference point? Candidates put forward in the literature range from the status quo, to rational expectations and the narrow focus of dreaming or worrying about a single possible outcome. This paper develops a model that includes all of these candidate sources. It does so, by allowing the reference point to be any convex combination of the outcomes possible under a consumption lottery. We introduce new solution concepts for reference-dependent choices, characterize these solution concepts on the level of choice data and identify the model’s parameters.