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Looming Large or Seeming Small? Attitudes Towards Losses in a Representative Sample
Chapman, Jonathan; Snowberg, Erik; Wang, Stephanie; … - 2022
We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N = 3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...
Persistent link: https://www.econbiz.de/10013353432
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Preferences for redistribution and pensions: What can we learn from experiments?
Tausch, Franziska; Potters, Jan; Riedl, Arno - 2010
Redistribution is an inevitable feature of collective pension schemes and economic experiments have revealed that most people have a preference for redistribution that is not merely inspired by self-interest. Interestingly, little is known on how these preferences interact with preferences for...
Persistent link: https://www.econbiz.de/10010270867
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Cheating and Loss Aversion: Do People Lie More to Avoid a Loss?
Grolleau, Gilles; Kocher, Martin G.; Sutan, Angela - 2014
Does the extent of cheating depend on a proper reference point? We use a real effort task that implements a two (gain versus loss frame) times two (monitored performance versus unmonitored performance) between-subjects design to examine whether cheating is reference-dependent. Our experimental...
Persistent link: https://www.econbiz.de/10010420750
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Meta-Analysis of Inequality Aversion Estimates
Nunnari, Salvatore; Pozzi, Massimiliano - 2022
aversion reported from 1999 to 2022. In particular, we examine 85 estimates of disadvantageous inequality aversion (or envy … presence of inequality concerns: the mean envy coefficient is 0:426 with a 95% probability that the true value lies in the …
Persistent link: https://www.econbiz.de/10013353463
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Optimal incentive contracts for a worker who envies his boss
Dur, Robert; Glazer, Amihai - 2004
A worker's utility may increase in his own income, but envy can make his utility decline with his employer's income … various assumptions about the object and generality of envy. Envy amplifies the effect of incentives on effort and, therefore …, increases optimal incentive pay. Moreover, envy can make profitsharing optimal, even when the worker's effort is fully …
Persistent link: https://www.econbiz.de/10010261264
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Overconfidence and Gender Equality in the Labor Market
Bastani, Spencer; Giebe, Thomas; Gürtler, Oliver - 2023
Gender differences in overconfidence have been extensively documented in the empirical literature, but the implications for labor market outcomes are not well understood. In this paper, we analyze how men's relatively higher overconfidence, combined with competitive job incentives, affects...
Persistent link: https://www.econbiz.de/10014290249
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Loss Attitudes in the U.S. Population: Evidence from Dynamically Optimized Sequential Experimentation (DOSE)
Chapman, Jonathan; Snowberg, Erik; Wang, Stephanie; … - 2018
We introduce DOSE - Dynamically Optimized Sequential Experimentation - and use it to estimate individual-level loss aversion in a representative sample of the U.S. population (N = 2,000). DOSE elicitations are more accurate, more stable across time, and faster to administer than standard...
Persistent link: https://www.econbiz.de/10011932012
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Willingness to Accept, Willingness to Pay, and Loss Aversion
Chapman, Jonathan; Dean, Mark; Ortoleva, Pietro; … - 2023
We use four incentivized representative surveys to study the endowment effect for lotteries in 4,000 U.S. adults. We replicate the standard finding of an endowment effect–the divergence between Willingness to Accept (WTA) and Willingness to Pay (WTP), but document three new findings. First, we...
Persistent link: https://www.econbiz.de/10014290110
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Meta-Analysis of Empirical Estimates of Loss-Aversion
Alexander, L. Brown; Imai, Taisuke; Vieider, Ferdinand M.; … - 2021
Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale interdisciplinary meta-analysis, to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported during the past couple of decades. We...
Persistent link: https://www.econbiz.de/10012492994
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Cooperation and Punishment: The Individual-Level Perspective
Albrecht, Felix; Kube, Sebastian; Traxler, Christian - 2016
engage in punishment. Analyzing the interplay between types in an additional experiment, we show that pro-social punishers …
Persistent link: https://www.econbiz.de/10011615839