Suppose Ariel has reference-dependent preferences over money, thingamabobs, and whatzits. Let her consumption in money, thingamabobs, and whatzits be c1​,c2​, and c3​, respectively, and let her reference points in money,  thingamabobs, and whatzits be r1​,r2​, and r3​, respectively.
Then, Ariel's utility is given by 
v(c1​−r1​)+v(4c2​−4r2​)+v(4c3​−4r3​),  where v(x)=x for x≥0, and v(x)=2x for x<0. Normalize Ariel's initial amount of money to zero, and suppose she starts off with zero thingamabobs and zero whatzits. 1. What will be Ariel's utility from losing two thingamabobs, gaining one whatzit, and gaining $3?