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A better way for JPSP to have handled Bem's paper would be to invite comments from reputable scholars before publishing it, and then print the comments (and replies from Bem et al.) in the same issue. Other journals have followed this strategy with particularly controversial articles.

As it stands now, JPSP (the premier social psych journal) just looks ridiculous.

I have a paper in press at the Journal of Applied Psychology that used both hypothetical scenarios and real money in prospect theory experiments. We looked at whether people shifted their reference points post hoc-- after they had learned the outcomes of their decisions. Our results showed that people shifted their reference points to either maintain positive moods or repair negative moods.

If you are interested, you can see the paper here:

http://faculty.washington.edu/mdj3/Johnson,%20Ilies,%20&%20Boles%20%28in%20press%29.pdf