منابع مشابه
Loss aversion and perceptionally risk aversion
This paper analyzes, for S-shaped value functions, the relations between loss aversion and perceptionally risk aversion (i.e. computed with the perceived probability weights) in Cumulative Prospect Theory . We show that perceptionally risk aversion for mixed sign lotteries is equivalent to weak (or strong) loss aversion, so this is the right assumption to get a sensible behavior towards risk. T...
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Loss Aversion and Labor Supply In many occupations workers’ labor supply choices are constrained by institutional rules regulating labor time and effort provision. This renders explicit tests of the neoclassical theory of labor supply difficult. Here we present evidence from studies examining labor supply responses in “neoclassical environments” in which workers are free to choose when and how ...
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In this paper we reexamine several experimental papers on myopic loss aversion by analyzing individual rather than aggregate choice patterns. We find that the behavior of the majority of subjects is inconsistent with the hypothesis of myopic loss aversion.
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The Spence model (1975) is extended so that customers’ utility depends on their disposition to the firm in addition to quantity and quality of the good consumed. Disposition is determined by customers’ perception of firm’s pricing and quality decisions, which perception is ‘reference dependent’. The profit maximising, efficient, and Ramsey price and quality combinations are derived. Adjustment ...
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The Nash equilibrium solution concept for games is based on the assumption of expected utility maximization. Reference dependent utility functions (in which utility is determined not only by an outcome, but also by the relationship of the outcome to a reference point) are a better predictor of behavior than expected utility. In particular, loss aversion is an important element of such utility f...
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ژورنال
عنوان ژورنال: Journal of Real Estate Literature
سال: 2017
ISSN: 0927-7544,1573-8809
DOI: 10.1080/10835547.2017.12090454