Attitudes toward Success and Failure
在标准期望效用框架下，以外部参照点区分成功与失败，定义了对成功与失败的态度，并发现这些态度与决策者风险态度在参照点附近的局部反转有关，为多种参照点依赖偏好模型提供了统一视角。
Individuals often attach a special meaning to attaining a certain goal, and getting past a threshold marks the difference between success and failure. In this paper, we take a standard expected utility (EU) setting with an exogenous reference point that separates success from failure and define attitudes toward success and failure as features of preferences over lotteries. The distinctive feature of our definitions is that they concern a local reversal of the decision-maker’s risk attitude across the reference point. Our findings provide a unified view of several well-known models of reference-dependent preferences and suggest new forms of comparative statics exercises.