An index of loss aversion

By Veronika Köbberling, Peter P. Wakker. Journal of Economics Theory, 2005

573 citations recorded by the source corpus.

Subfields: General Decision Sciences, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/824a8b82deb6912529b6eed152db45cfc3346bc5

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Citations in the corpus

Status Concerns as a Motive for Crime? (2015, background): “Strain theory started with Merton (1938); since then the theory has been elaborated in several ways.”
Choosing Outcomes versus Choosing Products: Consumer‐Focused Retirement Investment Advice (2008, background): “One means of estimating is taking the ratio of the slopes of the utility function onl opposite sides of this border (Köbberling and Wakker 2005).”
Portfolio performance evaluation with loss aversion (2010, unknown): “The loss-aversion coefficient of Köbberling and Wakker (2005) is a part of the investor’s performance measure, the Z ratio.”
Dynamic Pricing Strategies with Reference Effects (2007, background): “1, including reference dependence (RD), and the weaker form of loss aversion (LA) in terms of the index ρ(r) = λL(r) λG(r) , proposed by Köbberling and Wakker (2005). We do not specifically assume diminishing sensitivity (DS) (i.”
A tractable method to measure utility and loss aversion under prospect theory (2008, background): “Like Köbberling and Wakker (2005), we assume that the observable utility U in”
Static portfolio choice under Cumulative Prospect Theory (2010, unknown): “This trail of thought led Köbberling and Wakker [30] to apply to CPT the same philosophical insight that Wakker [40] applied to RDU, hence formulating the now standard index of loss aversion, where utility is prior to risk and loss aversion.”
Joint inventory and pricing decisions with reference effects (2014, unknown): “The consumers are loss neutral if ρ(r ) = 1 (a2 = a3) and loss seeking if ρ(r ) < 1 (a2 > a3) (Köbberling and Wakker, 2005).”
Loss Aversion Under Prospect Theory: A Parameter-Free Measurement (2007, methodology): “According to the definitions of Kahneman and Tversky (1979) and Köbberling and Wakker (2005), a large majority of our subjects was loss averse regardless of whether response error was taken into account.”
Happiness and loss aversion : is utility concave or convex in relative income? (2007, methodology): “Data, variables and estimation procedure The database used for all estimations is the German Socio-Economic Panel (GSOEP; see Wagner et al., 1993; Kroh and Spiess, 2005).”
Measuring Loss Aversion under Ambiguity: A Method to Make Prospect Theory Completely Observable (2016, unknown): “Köbberling and Wakker (2005) defined loss aversion as the kink of utility at the reference point.”
Risk and Rationality: Uncovering Heterogeneity in Probability Distortion (2009, background): “lotteries with both positive and negative outcomes, is not identifiable in our data, as the lottery designs did not contain any mixed lotteries (Köbberling and Wakker, 2005).”