Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; … - 2011
that incorporates standard risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability …. More specifically, we find that standard risk aversion is small, loss aversion is nonexistent, and nonlinear probability … the data than standard risk aversion alone, loss aversion alone, and standard risk aversion and loss aversion combined …