Loss aversion, diminishing sensitivity, and the effect of experience on repeated decisions†

By Ido Erev, Eyal Ert, Eldad Yechiam. 2008

204 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/c8992ed08699981884f6b685c94ab580868b4440

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Citations in the corpus

The Loss of Loss Aversion: Will It Loom Larger Than Its Gain? (2018, unknown): “…or (b) a bet with even odds of gaining either 0 or 2000 points) than when choosing among options where one of the choices involves potential for loss (e.g., choose between (a) receiving 0 points for sure or (b) a bet with even odds of losing 1000 points or gaining 1000 points; Erev et al., 2008).”
Hierarchical Bayesian parameter estimation for cumulative prospect theory (2011, methodology): “Despite the fact that Rieskamp (2008) used a paradigm where probabilities and values were explicitly given while Erev et al. (2008) used a paradigmwhere probabilities and values had to be learned by experience, data from studies such as these indicate that the claim that people are in general loss…”
Loss aversion in the eye and in the heart: The autonomic nervous system's responses to losses (2011, background): “The first hypothesis builds on the suggestion of Erev et al. (2008) that decisions under uncertainty represent a distinct context in which people have no special sensitivity to losses, as opposed to riskless decisions (see also Ert & Erev, 2008).”
Response to Travel Information: A Behavioural Review (2015, background): “Framing and loss aversion effects appear to weaken in learning scenarios, similar to Erev et al. (2008), Ben-Elia and Shiftan (2010) show that reference dependency (specified as mean travel time) does not improve model fit.”
Learning and the Economics of Small Decisions (2013, result): “These results (and similar findings reported in Weber et al. , 2004; Ungemach et al., 2008; Erev et al., 2010a; Hau et al., 2008; and in reviews by Hertwig & Erev, 2009 and Rakow & Newell, 2010) suggest that the tendency to underweight rare events in decisions from experience is not driven by the…”