the loss aversion of a sponsor, who is assumed to be more sensitive to underfunding than overfunding. Through the lens of … prospect theory, we first set up a loss-aversion utility function for a sponsor whose utility depends on the funding ratio in … retirement. We also find that the equity portion of the portfolio increases when a sponsor is less loss-averse or the …

In this paper, we investigate a novel multiperiod portfolio decision model for loss-averse investors with dynamically …

Using detailed mutual fund holdings in the US market, we estimate active mutual fund managers’ loss aversion as a … function of both funds’ past performance and asset allocations. We document a substantial variation in loss aversion over time …. We further find managers' loss aversion is higher when past fund flows were high and lower when past fund flows were …

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 …