Arkes, Hal; Hirshleifer, David; Jiang, Danling; Lim, Sonya - Volkswirtschaftliche Fakultät, … - 2007
We examined prospect theory and reference point adaptation following gains or losses using participants from China, Korea, and the US. Supporting prospect theory, we found in Studies 1 and 2 that subjects from all three countries generally exhibited loss aversion and a greater propensity for...