Loss Aversion Is an Affective Forecasting Error
نویسندگان
چکیده
منابع مشابه
Loss aversion is an affective forecasting error.
Loss aversion occurs because people expect losses to have greater hedonic impact than gains of equal magnitude. In two studies, people predicted that losses in a gambling task would have greater hedonic impact than would gains of equal magnitude, but when people actually gambled, losses did not have as much of an emotional impact as they predicted. People overestimated the hedonic impact of los...
متن کاملIS THERE LOSS AVERSION IN BUYING? AN ADVERSARIAL COLLABORATION by
This paper reports an exercise in adversarial collaboration. An adversarial collaboration is an investigation carried out jointly by two individuals or research groups who, having proposed conflicting hypotheses, seek to resolve the issue in dispute. The experiment reported was designed to reconcile differences between the apparently conflicting results of two previous experiments, one carried ...
متن کاملAn index of loss aversion
To a considerable extent, risk aversion as it is commonly observed is caused by loss aversion. Several indexes of loss aversion have been proposed in the literature. The one proposed in this paper leads to a clear decomposition of risk attitude into three distinct components: basic utility, probability weighting, and loss aversion. The index is independent of the unit of payment. The main theor...
متن کاملIs There Loss Aversion in Buying? an Adversarial Collaboration
Acknowledgements: We are grateful to Jack Knetsch and Peter Wakker, and to participants at
متن کاملLoss aversion and perceptionally risk aversion
This paper analyzes, for S-shaped value functions, the relations between loss aversion and perceptionally risk aversion (i.e. computed with the perceived probability weights) in Cumulative Prospect Theory . We show that perceptionally risk aversion for mixed sign lotteries is equivalent to weak (or strong) loss aversion, so this is the right assumption to get a sensible behavior towards risk. T...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Psychological Science
سال: 2006
ISSN: 0956-7976,1467-9280
DOI: 10.1111/j.1467-9280.2006.01760.x