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Cited by 200

The DOI matches its Crossref record; 8 of the 8 references it cites were found in a registry or an index.

Loss aversion, diminishing sensitivity, and the effect of experience on repeated decisions

Erev, Ido, Ert, Eyal, Yechiam, Eldad·2008·Journal of Behavioral Decision Making
DOI 10.1002/bdm.602
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Abstract

Three experiments are presented that explore the assertion that loss aversion and diminishing sensitivity drive the effect of experience on choice behavior. The experiments are focused on repeated choice tasks where decision makers choose repeatedly between alternatives and get feedback after each choice. Experiments 1a and 1b show that behavioral tendencies that were previously interpreted as indications of loss aversion in decisions from experience are better described as products of diminishing sensitivity to absolute payoffs. Experiment 2 highlights a nominal magnitude effect: A decrease in the magnitude of the nominal payoffs eliminates the evidence for diminishing sensitivity. These and related previous results can be captured with a model that assumes reliance on small samples of subjective experiences, and an increase in diminishing sensitivity with payoff variability. Copyright © 2008 John Wiley & Sons, Ltd.

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Metadata

Authors
Erev, I., Ert, E., & Yechiam, E.
Venue
Journal of Behavioral Decision Making
Publisher
Wiley
Published
2008-05-08
Volume
21
Issue
5
Pages
575-597
ISSN
  • 0894-3257 (ISSN-L)
  • 1099-0771
DOI
10.1002/bdm.602
OpenAlex
W1987611772
Cited by
200
References
8
FWCI
6.78
Type
journal article
Language
en
Open access
closed

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.