Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/233498
Authors: 
Brown, Alexander L.
Imai, Taisuke
Vieider, Ferdinand M.
Camerer, Colin
Year of Publication: 
2021
Series/Report no.: 
Discussion Paper No. 275
Abstract: 
Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale interdisciplinary meta-analysis, to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported during the past couple of decades. We examine 607 empirical estimates of loss aversion from 150 articles in economics, psychology, neuroscience, and several other disciplines. Our analysis indicates that the mean loss aversion coefficient is between 1.8 and 2.1. We also document how reported estimates vary depending on the observable characteristics of the study design.
Subjects: 
loss aversion
prospect theory
meta-analysis
JEL: 
D81
D90
C90
C11
Document Type: 
Working Paper

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