文章基本信息

标题：On the descriptive value of loss aversion in decisions under risk: Six clarifications
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作者：Ert, Eyal ; Erev, Ido
期刊名称：Judgment and Decision Making
印刷版ISSN：1930-2975
出版年度：2013
卷号：8
期号：3
页码：214-235
出版社：Society for Judgment and Decision Making
摘要：Previous studies of loss aversion in decisions under risk have led to mixed results. Losses appear to loom larger than gains in some settings, but not in others. The current paper clarifies these results by highlighting six experimental manipulations that tend to increase the likelihood of the behavior predicted by loss aversion. These manipulations include: (1) framing of the safe alternative as the status quo; (2) ensuring that the choice pattern predicted by loss aversion maximizes the probability of positive (rather than zero or negative) outcomes; (3) the use of high nominal (numerical) payoffs; (4) the use of high stakes; (5) the inclusion of highly attractive risky prospects that creates a contrast effect; and (6) the use of long experiments in which no feedback is provided and in which the computation of the expected values is difficult. In addition, the results suggest the possibility of learning in the absence of feedback: The tendency to select simple strategies, like ``maximize the worst outcome'' which implies ``loss aversion'', increases when this behavior is not costly. Theoretical and practical implications are discussed.
关键词：prospect theory; status-quo bias; equity premium puzzle; contrast effect; choice lists.