Suppose Fox has reference-dependent preferences over money, stickers, and airplanes. Let his consumption in money, stickers, and airplanes be c1, C2, and C3, respectively, and let his reference points in money, stickers, and airplanes be ri, r2, and r3, respectively. Then, Fox's utility is given by v(C1 r) + v(4C2 4r2) + v(4C3 4r3), where v(x) = x for x > 0, and v(x) = 2x for x 0, and v(x) = 2x for x