price. If consumers are additionally sufficiently ‘loss averse’, e.g. consumers’ disappointment from higher than suggested …

distinguish pure reference dependence from effects due to loss aversion. Thus, we use actual market data to test essential … reference dependence can be identified separately from loss aversion. Secondly, we introduce a consistent non-linear estimator … to deal with measurement errors problems involved in testing for loss aversion. In this dataset, we find strong reference …

We find evidence for the behavioral biases of anchoring and loss aversion. We find that anchoring is more important for … items that are resold quickly, and we find that the effect of loss aversion increases with the time that a painting is held …. The evidence in favor of anchoring and loss aversion with this large dataset validates previous results and adds to the …

Loss aversion is one of the most robust findings to have emerged from behavioral economics. Surprisingly little … attention, however, has been devoted to nominal loss aversion, the interaction of loss aversion and money illusion. People tend …

Shortfall aversion reflects the higher utility loss of a spending cut from a reference point than the utility gain from … a similar spending increase, in the spirit of Prospect Theory's loss aversion. This paper posits a model of utility of …

We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …

In this paper we analyze a consumer choice model with price uncertainty, loss aversion, and expectation-based reference … sandwiches and the degree of loss aversion which we measure separately. We find that more loss-averse participants are more …