@techreport{Neumann2007Reference,
abstract = {A Discrete Choice Experiment (DCE) in the health-care sector is used to test the loss aversion theory that is derived from reference-dependent preferences: The absolute subjective value of a deviation from a reference point is generally greater when the deviation represents a loss than when the same-sized change is perceived as a gain. As far as is known, this paper is the first to use a DCE to test the loss aversion theory. A DCE appears to be a highly suitable tool for this testing because it estimates the marginal valuations of attributes, based on deviations from a reference point (a constant scenario). Moreover, loss aversion can be examined for each attribute separately. A DCE can also be applied to non-traded goods with non-tangible attributes. A health-care event is used for empirical illustration: The loss aversion theory is tested within the context of preference structures for maternity-ward attributes, estimated using data entailing 3850 observations from a sample of 542 women who recently gave birth. Seven hypotheses are presented and tested. Overall, significant support for behavioral loss aversion theories was found.},
address = {Bonn},
author = {Einat Neumann and Shoshana Neuman},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D01; 360; Preferences; attributes; loss aversion; reference-dependence; discrete choice experiment; maternity-wards; Gesundheitsversorgung; Krankenhaus; Frauen; Dienstleistungsqualit\"{a}t; Bewertung; Vergleich; Unvollkommene Information; Diskrete Entscheidung; Israel},
language = {eng},
number = {3238},
publisher = {IZA},
title = {Reference-dependent preferences and loss aversion: a discrete choice experiment in the health-care sector},
type = {IZA Discussion Papers},
url = {http://hdl.handle.net/10419/35114},
year = {2007}
}
