https://macropaperwarehouse.com/authors/pol-campos-mercade/Pol Campos-MercadeHugo -- gohugo.ioen-ushttps://macropaperwarehouse.com/papers/de-gustibus-and-disputes-about-reference-dependence/https://macropaperwarehouse.com/papers/de-gustibus-and-disputes-about-reference-dependence/<p>This paper examines whether heterogeneity in individual gain-loss attitudes — the degree to which people weigh losses more or less severely than equivalent gains — contaminates prior tests of expectations-based reference dependence (EBRD). The central question is: do prior experiments that appear to yield mixed or null evidence against EBRD actually reflect a failure of the expectations-based reference point, or instead reflect a methodological flaw — the implicit assumption that all individuals are uniformly loss averse?</p>