[Solved] In standard prospect theory, the decision maker assesses gains and losses relative to the status quo. Behavioral economists say that the status quo serves as a reference point. Is it

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In standard prospect theory, the decision maker assesses gains and losses relative to the status quo. Behavioral economists say that the status quo serves as a reference point. Is it possible that people might assess gains and losses relative to some other reference point Can you think of any plausible alternatives


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