Kahneman and Tversky suggest that the way people go about assigning values to utilities of prizes is by
A) defiining for themselves a status quo outcome only
B) judging all outcomes other than the status quo as either gains or losses from the status quo only
C) defiining for themselves a status quo outcome and judging all outcomes other than the status quo as either gains or losses from the status quo

Question

Quizplus · Accepted Answer

Kahneman and Tversky suggest that people define a status quo outcome for themselves and judge all other outcomes as either gains or losses from that status quo. This is known as the reference point theory of utility.

Kahneman and Tversky Suggest That the Way People Go About