Loss Aversion Is an Affective Forecasting Error

Volume: 17, Issue: 8, Pages: 649 - 653
Published: Aug 1, 2006
Abstract
Loss aversion occurs because people expect losses to have greater hedonic impact than gains of equal magnitude. In two studies, people predicted that losses in a gambling task would have greater hedonic impact than would gains of equal magnitude, but when people actually gambled, losses did not have as much of an emotional impact as they predicted. People overestimated the hedonic impact of losses because they underestimated their tendency to...
Paper Details
Title
Loss Aversion Is an Affective Forecasting Error
Published Date
Aug 1, 2006
Volume
17
Issue
8
Pages
649 - 653
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