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dc.contributor.authorGächter, Simonen
dc.contributor.authorJohnson, Eric J.en
dc.contributor.authorHerrmann, Andreasen
dc.date.accessioned2010-12-02-
dc.date.accessioned2011-09-26T13:23:04Z-
dc.date.available2011-09-26T13:23:04Z-
dc.date.issued2010-
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
dc.language.isoengen
dc.publisher|aThe University of Nottingham, Centre for Decision Research and Experimental Economics (CeDEx) |cNottinghamen
dc.relation.ispartofseries|aCeDEx Discussion Paper Series |x2010-20en
dc.subject.jelC91en
dc.subject.jelC93en
dc.subject.jelD81en
dc.subject.ddc330en
dc.subject.keywordloss aversionen
dc.subject.keywordendowment effecten
dc.subject.keywordfield experimentsen
dc.subject.stwEntscheidung bei Risikoen
dc.subject.stwRisikoaversionen
dc.subject.stwAltersgruppeen
dc.subject.stwEinkommenen
dc.subject.stwVermögenen
dc.subject.stwBildungsniveauen
dc.titleIndividual-level loss aversion in riskless and risky choices-
dc.typeWorking Paperen
dc.identifier.ppn640944027en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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