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Loss aversion, social comparison and physical abilities at younge age

Yasuhiro Nakamoto () and Masayuki Sato ()

MPRA Paper from University Library of Munich, Germany

Abstract: We examine how physical abilities affect individuals' preferences. In particular, by incorporating social comparison into prospect theory, we directly estimate the degree of loss aversion from social comparison, a concept we term `ALJ' (\textit{Avoiding Loss relative to the Joneses}). Our main findings are as follows: (i) the participants who choose the physical education as the best subject exhibit a greater degree of ALJ than others; (ii) physical fitness influences the degree of ALJ; (iii) gender influences social comparison preferences; (iv) participants with a greater degree of ALJ do not respond to voluntary questionnaire; (v) the form of participants' ALJ is affected by the voluntary behavior of their parents. A comparison of ALJ with loss aversion in the original prospect theory reveals that they have different characteristics.

Keywords: Loss aversion; Risk aversion; Social Comparison; Physical fitness; Voluntary participation (search for similar items in EconPapers)
JEL-codes: C90 C93 D12 (search for similar items in EconPapers)
Date: 2011-06-01
New Economics Papers: this item is included in nep-cbe, nep-evo, nep-exp and nep-upt
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https://mpra.ub.uni-muenchen.de/31221/1/MPRA_paper_31221.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/32206/1/MPRA_paper_32206.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/32208/1/MPRA_paper_32208.pdf revised version (application/pdf)

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