We study loss aversion in majority voting. First, we show a status quo bias. Second, loss aversion implies a moderating …; however, in the presence of a projection bias, majorities are partially unable to understand how fast they will adapt. Fourth … status quo. The application of these results to a model of redistribution leads to empirically plausible implications …

We study loss aversion in majority voting. First, we show a status quo bias. Second, loss aversion implies a moderating …; however, in the presence of a projection bias, majorities are partially unable to understand how fast they will adapt. Fourth … status quo. The application of these results to a model of redistribution leads to empirically plausible implications …

a minority of voters are biased, but harmful when a majority is biased. In theory, information on the success of policy … on success is ineffective and does not de-bias voters. …