000			01356nam a22001577a 4500
999			_c517343 _d517343
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100			_aMaltz, Amnon _926466
245			_aExogenous endowment—endogenous reference point
260			_aThe Economic Journal: A Journal of the Royal Economic Society
300			_a130(625), Jan, 2020: p.160-182
520			_aWe develop a model in the presence of categories that creates a link between the agent’s exogenous endowment and an endogenous reference point. The reference point is the best feasible alternative in the endowment’s category. This reference generates a constraint set from which the final choice is made according to utility maximisation. The model predicts category bias, which generalises the status quo bias by attracting the agent to her endowment’s category but not necessarily to the endowment itself. We show that it accommodates recent experimental findings regarding the presence and absence of status quo bias in the realm of uncertainty. In a stylised financial setup, we show that it may lead to a risk premium even with risk-neutral agents. – Reproduced
650			_aMicroeconomic Behavior, Consumer Economics, Intertemporal Choice _926467
773			_aThe Economic Journal: A Journal of the Royal Economic Society
906			_aCONSUMER BEHAVIOUR
942			_cAR