Comparative Loss Aversion: Some New Behavioral Implications
Abstract
This paper proposes a new loss aversion coefficient for decision makers. Considering this loss aversion coefficient and Shalev’s (2002) perceptive utility function, we define a new version of rank-dependent expected utility theory. Our main results extend the restrictions of comparative loss aversion, and reveal the behavioral implications of comparative loss aversion. The new loss aversion coefficient is well defined as a measure of degree of...
Paper Details
Title
Comparative Loss Aversion: Some New Behavioral Implications
Published Date
Dec 31, 2012
Journal
Volume
8
Issue
5
Pages
44 - 49
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