Allan wants to buy a new shirt but has not done so yet. Suppose he has reference-dependent utility over shirts (cS ) and money (cM ) of the form: v(15cS 15rS ) + v(cM rM ), where rM is Allan's reference point for money and rS is Allan's reference point for shirts. Utility is given by v(x) = x2 for x 0 and v(x) = 2x2 for x < 0. Allan has $100 in cash. Assume that when Allan is indifferent between buying and not buying a shirt, he buys a shirt. Note: utility is non-linear, so answers may not be round numbers. Now suppose Allan sees a Uniqlo promotion. Shirts have been discounted to $10, so Allan is excited and wants to buy one. His reference points are now rS = 1 and rM = 90. When he arrives at the store, the shirt is no longer available. He decides to buy the shirt on Uniqlo's website instead. What is Allan's maximum willingness to pay for a shirt while shopping online?