Environmental policy and bounded rationality

The Prospect Theory proposes to assess outcomes relative to a reference point (or benchmark). Although the literature recognises the relevance of dynamic benchmarks, most of the applications of Prospect Theory employ static reference points (or a status quo). This paper aims to develop a Prospect Th...

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Bibliographic Details
Main Author: Vinokur, Leon
Published: Queen Mary, University of London 2010
Online Access:https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.528384