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There is a large literature evaluating the dual process model of cognition, including the biases and heuristic it implies. To advance this literature, we focus on what triggers decision makers to switch from the intuitive process (aka System 1) to the more deliberative process (aka System 2)....
Persistent link: https://www.econbiz.de/10013198848
, convexity for losses, and loss aversion apply to the dependence of life satisfaction on relative income. This is tested with a … implies a rising marginal sensitivity of life satisfaction to more negative values of relative income, and hence loss aversion … satisfaction ; relative income ; value function ; loss aversion ; social participation …
Persistent link: https://www.econbiz.de/10003348533
. -- Reference points ; expectations ; loss aversion ; risk aversion ; disappointment ; experiment …
Persistent link: https://www.econbiz.de/10003794106
Loss aversion can occur in riskless and risky choices. Yet, there is no evidence whether people who are loss averse in … riskless choices are also loss averse in risky choices. We measure individual-level loss aversion in riskless choices in an … manufacturer). All subjects also participate in a simple lottery choice task which arguably measures loss aversion in risky choices …
Persistent link: https://www.econbiz.de/10003586547
We report the results of a laboratory experiment testing for the existence of loss aversion in a standard risk aversion … incentivized risk preference elicitation task. We find loss aversion, distinct from risk aversion, has a significant effect on …
Persistent link: https://www.econbiz.de/10010379927
Loss aversion, the fact that losses have a greater impact than gains, is a fundamental property of behavioral accounts … systematic individual difference, with some individuals more or less loss aversion, (3) it could be a property of the attribute … large sample of auto buyers using an experiment which allows us to measure loss aversion, at the individual level for …
Persistent link: https://www.econbiz.de/10003361690
to loss aversion. In line with empirical evidence from previous research, our results indicate that introducing a …. Most notably, we find that the propensity to discriminate is significantly lower when this penalty is loss-framed rather …
Persistent link: https://www.econbiz.de/10012549727
a time-dependent causal effect of the loss of the co-twin on the mortality rate of the surviving twin. We develop a … Danish Twin Registry. Among men, the loss of an identical co-twin at age 75 causally reduces the remaining lifetime on … average by more than a year. This bereavement effect is less severe among non-identical twins or if the loss occurs at a …
Persistent link: https://www.econbiz.de/10011842124
We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion …, utilizing an asset integration protocol designed to ensure that a loss of cash provided by the experimenter is viewed as a real … loss by experimental participants. Our experimental design augments the Holt-Laury risk preference elicitation methodology …
Persistent link: https://www.econbiz.de/10011997618
examine how human beings respond to major financial losses. University ethics boards would not allow this kind of huge-loss …. Participants lose any cash placed on a wrong answer. We find evidence of risk reduction after people suffer a loss in the previous … decision round. A prior financial loss of £10,000 is estimated to increase the propensity to fully diversify by 6 percentage …
Persistent link: https://www.econbiz.de/10013367589