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Cogn Psychol. 1999 Feb;38(1):79-109.

Goals as reference points.

Author information

1
Fuqua School of Business, Duke University, Durham, NC 27708, USA. heath@mail.duke.edu

Abstract

We argue that goals serve as reference points and alter outcomes in a manner consistent with the value function of Prospect Theory (Kahneman & Tversky, 1979; Tversky & Kahneman, 1992). We present new evidence that goals inherit the properties of the value function-not only a reference point, but also loss aversion and diminishing sensitivity. We also use the value function to explain previous empirical results in the goal literature on affect, effort, persistence, and performance.

PMID:
10090799
DOI:
10.1006/cogp.1998.0708
[Indexed for MEDLINE]

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