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?
The researcher designed an experiment: Inform the subjects that their neighbors' monthly water and electricity expenditures are lower than theirs, and found that the subjects' household energy consumption will be significantly reduced next month.