Individuals tend to give losses approximately 2-fold the weight that they give gains. Such approximations of loss aversion (LA) are almost always measured in the stimulus domain of money, rather than objects or pictures. Recent work on preference-based decision-making with a schedule-less keypress task (relative preference theory, RPT) has provided a mathematical formulation for LA similar to t...

Many labor markets are characterized by long-term employment relations and incomplete labor contracts. The employees’ effort, in particular, is typically not contractible so that effort needs to be enforced endogenously in repeated interactions. Theory and evidence shows that under these conditions fairness concerns play an important role in affecting effort choices and wage setting, rendering ...

Research has identified loss aversion as a strong and robust phenomenon, but has also revealed some moderators affecting the magnitude of its effect on decision making. In the current article, we draw attention to the fact that even the measurement of loss aversion itself may affect its magnitude by inducing a focus on either losses or gains. In three studies, we provide empirical evidence for ...

electronic money that defined as stored-value on an electronic device and at present time is last phase of gradual evolution of money, is described as process of immaterialization and being invisibility of money. it is new phenomenon that in economic view has potential for play the roles of money and its functions. for analysis of legal nature of this phenomenon two approaches can be adopted. f...

Domestic attempts to use financial incentives for teachers to increase student achievement have been ineffective. In this paper, we demonstrate that exploiting the power of loss aversion—teachers are paid in advance and asked to give back the money if their students do not improve sufficiently—increases math test scores between 0.201 (0.076) and 0.398 (0.129) standard deviations. This is equiva...

"Mind power is God power! Mind power is money-getting p o w e r ! " e x c l a i m e d D r . Frederick J. Eikerenkoetter aka Reverend Ike as he dazzled a full house in Hamman Hall Friday with a discourse on his doctrine of the "Science of Living" and Green Power. In town this weekend for a g i a n t r e v i v a l Rev. Ike appeared on campus as a guest of Dr. Bill Martin of the sociology departme...