Meta-analysis of Empirical Estimates of Loss Aversion
California Institute of Technology · Ghent University · +5 more institutions
Abstract
Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale, interdisciplinary meta-analysis to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported from 1992 to 2017. We examine 607 empirical estimates of loss aversion from 150 articles in economics, psychology, neuroscience, and several other disciplines. Our analysis indicates that the mean loss aversion coefficient is 1.955 with a 95 percent probability that the true value falls in the interval [1.820, 2.102]. We record several observable characteristics of the study designs. Few characteristics are substantially correlated with differences in the mean…
Citation impact
- FWCI
- 105.88
- Percentile
- 100%
- References
- 86
Authors
4- ALAlexander L. BrownCorresponding
California Institute of Technology, Ghent University, Université Mohammed VI Polytechnique, Ludwig-Maximilians-Universität München, Texas A&M University
- TITaisuke Imai
California Institute of Technology, Ghent University, Université Mohammed VI Polytechnique, Institute for Social and Economic Research, Ludwig-Maximilians-Universität München, Texas A&M University, The University of Osaka
- FMFerdinand M. Vieider
California Institute of Technology, Université Mohammed VI Polytechnique, Ludwig-Maximilians-Universität München, Texas A&M University
- CFColin F. Camerer
California Institute of Technology, Ghent University, Université Mohammed VI Polytechnique, Ludwig-Maximilians-Universität München, Texas A&M University
Topics & keywords
- Econometrics
- Loss aversion
- Economics
- Statistics
- Mathematics
- Microeconomics