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dc.contributor.authorGächter, Simonen_US
dc.contributor.authorJohnson, Eric J.en_US
dc.contributor.authorHerrmann, Andreasen_US
dc.date.accessioned2010-12-02en_US
dc.date.accessioned2011-09-26T13:23:04Z-
dc.date.available2011-09-26T13:23:04Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/49656-
dc.description.abstractLoss aversion can occur in riskless and risky choices. Yet, there is no evidence whether people who are loss averse in riskless choices are also loss averse in risky choices. We measure individual-level loss aversion in riskless choices in an endowment effect experiment by eliciting both WTA and WTP from each of our 360 subjects (randomly selected customers of a car manufacturer). All subjects also participate in a simple lottery choice task which arguably measures loss aversion in risky choices. We find substantial heterogeneity in both measures of loss aversion. Loss aversion in the riskless choice task and loss aversion in the risky choice task are highly significantly and strongly positively correlated. We find that in both choice tasks loss aversion increases in age, income, and wealth, and decreases in education.en_US
dc.language.isoengen_US
dc.publisherCEDEX Nottinghamen_US
dc.relation.ispartofseriesCeDEx discussion paper series 2010-20en_US
dc.subject.jelC91en_US
dc.subject.jelC93en_US
dc.subject.jelD81en_US
dc.subject.ddc330en_US
dc.subject.keywordloss aversionen_US
dc.subject.keywordendowment effecten_US
dc.subject.keywordfield experimentsen_US
dc.subject.stwEntscheidung bei Risikoen_US
dc.subject.stwRisikoaversionen_US
dc.subject.stwAltersgruppeen_US
dc.subject.stwEinkommenen_US
dc.subject.stwVermögenen_US
dc.subject.stwBildungsniveauen_US
dc.titleIndividual-level loss aversion in riskless and risky choicesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn640944027en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CeDEx Discussion Paper Series, The University of Nottingham

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