A psychological law of inertia and the illusion of loss aversion
The principle of loss aversion is thought to explain a wide range of anomalous phenomena involving tradeoffs between losses and gains. In this article, I show that the anomalies loss aversion was introduced to explain - the risky bet premium, the endowment effect, and the status-quo bias - are chara...
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| Format: | Article |
| Language: | English |
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Cambridge University Press
2006-07-01
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| Series: | Judgment and Decision Making |
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| Online Access: | https://www.cambridge.org/core/product/identifier/S1930297500000322/type/journal_article |