How Basic Are Behavioral Biases? Evidence from Capuchin Monkey Trading Behavior

By M. K. Chen, Venkat R. Lakshminarayanan, Laurie R Santos, Nicholas Barberis, Dann Benjamin, Judy Chevalier, Steven Levitt, B. Nalebuff, E. Oster, Jesse Shapiro and 1 more. Journal of Political Economy, 2006

434 citations recorded by the source corpus.

Subfields: Cognitive Neuroscience, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/4027e96d7127e36a865fb24651f7ff79ad3fcf77

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Citations in the corpus

Relative Income, Happiness and Utility: An Explanation for the Easterlin Paradox and Other Puzzles (2008, neutral): “Chen et al. (2006) describe a fascinating set of experiments involving Capuchin monkeys, and find evidence that their preferences are reference-dependent (see also Brosnan and de Waal, 2003).”
On the Evolutionary Origin of Prospect Theory Preferences (2008, background): “Further evidence in support of this innate bias comes from primates who demonstrate similar tendencies in experimental contexts (Chen, Lakshminarayanan, and Santos 2006; Brosnan et al. 2007).”
Modeling the interplay between affect and deliberation. (2015, background): “For instance, Chen et al. (2006) introduced a currency into a colony of capuchin monkeys, presented the monkeys with gambles, and found that the monkeys displayed loss aversion.”
The Genetics of Investment Biases (2014, background): “…that capuchin monkeys exhibit loss aversion: “[L]oss aversion is an innate and evolutionarily ancient feature of human preferences, a function of decision-making systems that evolved before the common ancestors of capuchins and humans diverged” (Chen, Lakshminarayanan, and Santos, 2006, p. 520).”
Value versus growth investing: Why do different investors have different styles? (2015, neutral): “, Cosmides and Tooby (1994), Chen et al. (2006), and Santos and Chen (2009). (10)The Great Depression is the macro event that has so far been studied most in-depth in the social sciences, and a variety of outcomes later in life have been examined. We refer to Elder (1974) for one of the first and mo”
The evolution of decision-making under risk: Framing effects in monkey risk preferences (2011, methodology): “We tested five capuchins with prior trading experience (Chen et al., 2006; Lakshminarayanan et al., 2008).”