Reference dependence means that an individual judges the value of gains and losses based on a reference point. Above the reference point, the individual feels the gain, and vice versa. The perception of loss and gain depends on the choice of the reference point.
According to the above definition, which of the following is not reference dependency?
Ms. Zhang had to suspend work for six months due to childbirth and breastfeeding. She lost many customers and was very distressed, but she became happy again when she saw her healthy and lively son.