Karle, Heiko; Peitz, Martin - 2010 - Version: May 2, 2010, First Version: November 2009
performs better or, respectively, worse than their reference point in both dimensions. Loss aversion in the match …-value dimension leads to a less competitive outcome, while loss aversion in the price dimension leads to a more competitive … with consumers that do not have reference-dependent utilities. We also show that consumer loss aversion tends to lead to …