Myopic loss aversion or equate-to-differentiate heuristic? A heuristic decision making model for both single and aggregated plays
Abstract
Myopic loss aversion (MLA)-a combination of myopic loss and a greater sensitivity to losses than gains-has been proposed to explain the equity premium puzzle and then extended to myopic prospect theory (MPT). However, such an expected-value/utility-based theory has been challenged and the underlying mechanism remains debatable. In the current study, we applied the modified equate-to-differentiate model to address this phenomenon. In Experiment...
Paper Details
Title
Myopic loss aversion or equate-to-differentiate heuristic? A heuristic decision making model for both single and aggregated plays
Published Date
Jul 30, 2021
Volume
150
Issue
2
Pages
171 - 188
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