Peng, Jiaxi; Miao, Danmin; Xiao, Wei - In: Judgment and Decision Making 8 (2013) 2, pp. 150-160
The phenomenon that prior gains may increase people's willingness to accept risky gambles is named as the "house money effect" (Thaler and Johnson, 1990). Many studies have shown that the "house money effect" is a robust phenomenon but few scholars explain the mechanism of it well. We suppose...