Here is today's second review sounding the death knell for "loss aversion". https://onlinelibrary.wiley.com/doi/abs/10.1002/jcpy.1047 …pic.twitter.com/QGBrt3auvD
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Here is today's second review sounding the death knell for "loss aversion". https://onlinelibrary.wiley.com/doi/abs/10.1002/jcpy.1047 …pic.twitter.com/QGBrt3auvD
Behavioural econ apparently is like nutrition science - within a lifetime, all paradigms are refuted, even reversed full circle (fat crusade, then carbs crusade, finally back to calorie counting...whatever).
A slightly earlier similarly themed paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3049660 …
There are so many examples and variations of loss aversion. This one is likely to stand.
I guess they argue that loss aversion is not consistent except for large sums where it definitely exists.
When I looked at this abstract my impression was (as with other recent papers questioning loss aversion) it’s the interpretation of the data being challenged, not the integrity of the experiments themselves. However I haven’t read it - so will hold off judgement for now.
People studied more rational than scientists.
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