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Direct linkArkes, Hal R.; Hirshleifer, David; Jiang, Danling; Lim, Sonya S. – Organizational Behavior and Human Decision Processes, 2010
We examined reference point adaptation following gains or losses in security trading using participants from China, Korea, and the US. In both questionnaire studies and trading experiments with real money incentives, reference point adaptation was larger for Asians than for Americans. Subjects in all countries adapted their reference points more…
Descriptors: Asians, Cross Cultural Studies, Cultural Differences, Foreign Countries
