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As predicted by loss aversion, numerous studies find that penalties elicit greater effort than bonuses, even when the … underlying payoffs are identical. However, loss aversion also predicts that workers will demand higher wages to accept penalty …, but do not significantly reverse it. Overall, loss aversion seems to play surprisingly little role in this setting. The …
Persistent link: https://www.econbiz.de/10012962112
As predicted by loss aversion, numerous studies find that penalties elicit greater effort than bonuses, even when the … underlying payoffs are identical. However, loss aversion also predicts that workers will demand higher wages to accept penalty …, but do not significantly reverse it. Overall, loss aversion seems to play surprisingly little role in this setting. The …
Persistent link: https://www.econbiz.de/10011602519
Persistent link: https://www.econbiz.de/10010350816
Persistent link: https://www.econbiz.de/10011888709
such coarse screening, based on consumer loss aversion. In our model, a seller offers a menu of bundles before a consumer … learns his willingness to pay, and the consumer experiences gain-loss utility with reference to his prior (rational … offer a pooling menu under an intermediate range of loss aversion if the likelihood of low willingness-to-pay consumer is …
Persistent link: https://www.econbiz.de/10013138091
Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)'s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and expost renegotiation....
Persistent link: https://www.econbiz.de/10010316871
Previous experimental work provides encouraging support for some of the central assumptions underlying Hart and Moore (2008)’s theory of contractual reference points. However, existing studies ignore realistic aspects of trading relationships such as informal agreements and ex post...
Persistent link: https://www.econbiz.de/10009358972
versus loss frame) times two (monitored performance versus unmonitored performance) between-subjects design to examine …, the level of cheating is by far higher in the loss frame than in the gain frame. Furthermore, men are much more strongly …
Persistent link: https://www.econbiz.de/10010412075
versus loss frame) times two (monitored performance versus unmonitored performance) between-subjects design to examine …, the level of cheating is by far higher in the loss frame than in the gain frame. Furthermore, men are much more strongly …
Persistent link: https://www.econbiz.de/10010398917
Previous research suggests that human reaction to risky opportunities reflects two contradicting biases: "loss aversion …", and "limited level of reasoning" that leads to overconfidence. Rejection of attractive gambles is explained by loss … high rate of counterproductive betting even when limited level of reasoning and loss aversion imply no betting. The results …
Persistent link: https://www.econbiz.de/10013076466