Purpose – Academic researchers love multi‐category answer formats, especially five‐ and seven‐point formats. More than a decade ago Josef Mazanec concluded that these formats may not the best choice, and that simple binary‐answer options are preferable in some empirical survey...

We conduct an experiment to test whether the size of a loss and the time in a losing position affect investors’ adaptation to the loss situation and, subsequently, whether this adaptation affects future investment decisions. As investors adapt to losses, their neutral reference point shifts...

We conduct an experiment to test whether the size of a loss and the time in a losing position affect investors’ adaptation to the loss situation and, subsequently, whether this adaptation affects future investment decisions. As investors adapt to losses, their neutral reference point shifts...