Loss aversion in social image concerns

Vasilisa Petrishcheva (), Gerhard Riener () and Hannah Schildberg-Hörisch ()
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Vasilisa Petrishcheva: University of Potsdam
Gerhard Riener: Heinrich Heine University Düsseldorf
Hannah Schildberg-Hörisch: Heinrich Heine University Düsseldorf

Experimental Economics, 2023, vol. 26, issue 3, No 6, 622-645

Abstract: Abstract Does loss aversion apply to social image concerns? In a laboratory experiment, we first induce social image in a relevant domain, intelligence, through public ranking. In a second stage, subjects experience a change in rank and are offered scope for lying to improve their final, also publicly reported rank. Subjects who care about social image and experience a decline in rank lie more than those experiencing gains. Moreover, we document a discontinuity in lying behavior when moving from rank losses to gains. Our results are in line with loss aversion in social image concerns.

Keywords: Loss aversion; Social image concerns; Lying behavior; Laboratory experiment (search for similar items in EconPapers)
JEL-codes: C91 D91 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10683-022-09782-7

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