Many New York taxi drivers decide when to finish work each day by setting themselves a daily income target, and on reaching it they stop. This means that they typically work fewer hours on a busy day than on a slow day. Rational labour-market theory predicts that they will do the opposite, working longer on the busy day when their effective hourly wage-rate is higher, and less on the slow day when their wage-rate is lower.

Which of the following statements can best explain the paradox observed in the argument?

a) The taxi drivers believe in spending their money as soon as they earn it.
b) Instead of always trying to maximise their gain, the taxi-drivers may act from "loss-aversion."
c) The taxi drivers believe that it is economically more viable to have more leisure time as against more daily wages.
d) None of the above