“…Future research may also resort to methodology from other disciplines to better incorporate multiple reference points into a unified model. There is substantial recent research suggesting that consumers may use multiple reference points (Johnson et al., 2012; Kenney, 2016; Lu et al., 2015; Su & Xiong, 2020; Wang & Johnson, 2012), but relatively few empirical models address this issue. Wang and Johnson (2012) propose the tri‐reference point theory to understand complex decision making under risk, which was then tested by many researchers in experimental settings (e.g., Koop & Johnson, 2012; Lagerkvist et al., 2015, 2017; Xiong et al, 2018).…”