Be Ambitious or Lower Your Expectation: Goals as Optimal Reference Points

SSRN Electronic Journal（2022）

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摘要

•We suggest that an agent sets a goal for her task and take it as her reference point.•We show that the goal and effort chosen by the agent are complementary.•We show that both high and low goals can be optimal for the agent.

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关键词

Goal setting,Optimal reference points,Reference-dependent preference,Loss aversion

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