Meta-Analysis of Empirical Estimates of Loss-Aversion

Alexander Brown, Taisuke Imai, Ferdinand Vieider () and Colin F. Camerer
Additional contact information
Taisuke Imai: LMU Munich
Colin F. Camerer: California Institute of Technology

No 275, Rationality and Competition Discussion Paper Series from CRC TRR 190 Rationality and Competition

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 during the past couple of decades. 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 between 1.8 and 2.1. We also document how reported estimates vary depending on the observable characteristics of the study design.

Keywords: loss aversion; prospect theory; meta-analysis (search for similar items in EconPapers)
JEL-codes: C11 C90 D81 D90 (search for similar items in EconPapers)
Date: 2021-01-26
New Economics Papers: this item is included in nep-cbe and nep-upt
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Meta-analysis of Empirical Estimates of Loss Aversion (2024)
Working Paper: Meta-Analysis of Empirical Estimates of Loss-Aversion (2021)
Working Paper: Meta-Analysis of Empirical Estimates of Loss-Aversion (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:rco:dpaper:275

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