The DOI matches its Crossref record; 26 of the 26 references it cites were found in a registry or an index.
When Do Losses Loom Larger than Gains?
Abstract
In defining limits to loss aversion, Novemsky and Kahneman (2005) offer important new data and a needed summary of appropriate ways to think about loss aversion. In this comment to Novemsky and Kahneman's article, the authors consider the new empirical results that involve probabilistic buying and selling, suggesting caution in generalizing the results to nonprobabilistic commerce. The authors expand Novemsky and Kahneman's summary by exploring two critical constructs that help define the boundaries of loss aversion: emotional attachment and cognitive perspective. Emotional attachment alters loss aversion by moderating the degree to which parting with an item involves a loss, whereas shifts in cognitive perspective explain why items typically viewed as a loss are given more or less weight. The goal is to use these constructs to characterize more specifically contexts in which losses loom larger than gains and to suggest specific ways that research into loss aversion could evolve.
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In the citing paper
“loss aversion appears to increase with affective enrichment of “hedonic” consumer goods (e.g., music CDs versus computer disks) (11) and more generally with emotional attachment (12).”
From Amygdala damage eliminates monetary loss aversion (2010) · cites this paper as [12]
Citations
Cites
Prospect Theory: An Analysis of Decision under Risk
Kahneman, D., & Tversky, A. (1979) · Econometrica · doi:10.2307/1914185 · Cited by 48,524
Prospect theory: An analysis of decision under risk
Kahneman, D. J., & Tversky, A. (1988) · Cambridge University Press eBooks · doi:10.1017/cbo9780511609220.014 · Cited by 32,720
Loss aversion in riskless choice: A reference-dependent model.
Tversky, A., & Kahneman, D. (1991) · The Quarterly Journal of Economics · doi:10.2307/2937956 · Cited by 6,432
Moffitt, R. (2009) · American Economic Review · doi:10.1257/aer.99.2.660 · Cited by 4,888
Mental Accounting and Consumer Choice
Thaler, R. (1985) · Marketing Science · doi:10.1287/mksc.4.3.199 · Cited by 4,885
Mental Accounting and Consumer Choice
Thaler, R. H. (2008) · Marketing Science · doi:10.1287/mksc.1070.0330 · Cited by 3,477
Experimental Tests of the Endowment Effect and the Coase Theorem
Kahneman, D., Knetsch, J. L., & Thaler, R. H. (1990) · Journal of Political Economy · doi:10.1086/261737 · Cited by 3,194
Experimental Tests of the Endowment Effect and the Coase Theorem
Kahneman, D. J., Knetsch, J. L., & Thaler, R. H. (2000) · Cambridge University Press eBooks · doi:10.1017/cbo9781139175197.009 · Cited by 2,870
Measuring utility by a single-response sequential method
Becker, G. M., DeGroot, M. H., & Marschak, J. (1964) · Systems Research and Behavioral Science · doi:10.1002/bs.3830090304 · Cited by 2,720
Consumer Choice between Hedonic and Utilitarian Goods
Dhar, R., & Wertenbroch, K. (2000) · Journal of Marketing Research · doi:10.1509/jmkr.37.1.60.18718 · Cited by 2,239
Self-citation
Research works printed but not linked: 3
- Ariely Dan, 2005, “Price-Sensitive Preferences,”
- LeBoeuf Robyn A., 2004, “Alternating Selves and Conflicting Choices: Identity Salience and Preference Inconsistency,”
- Schwarz Norbert, 2001, Theories of Mood and Cognition: A User's Guidebook, 159
Cited by
Sorted by citations
The Effect of Mere Touch on Perceived Ownership
Peck, J., & Shu, S. B. (2009) · Journal of Consumer Research · doi:10.1086/598614 · Cited by 822
The Boundaries of Loss Aversion
Novemsky, N., & Kahneman, D. J. (2005) · Journal of Marketing Research · doi:10.1509/jmkr.42.2.119.62292 · Cited by 736
On the Emotional Value of Owning a Firm
Zellweger, T. M., & Astrachan, J. H. (2008) · Family Business Review · doi:10.1177/08944865080210040106 · Cited by 551
“…we utilize possession attachment (Belk, 1987, 1988; Richins, 1994b; SchultzKleine & Menzel-Baker, 2004; Watson, 1992) and endowment literature (Ariely et al., 2005; Knetsch & Sinden, 1984; Shogren, Shin, Haes, & Kliebenstein, 1994; Thaler, 1980) as theoretical lenses to highlight the impact…”
InfluentialThinking like a trader selectively reduces individuals' loss aversion
Sokol-Hessner, P., Hsu, M., Curley, N. G., Delgado, M. R., Camerer, C. F., & Phelps, E. A. (2009) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.0806761106 · Cited by 452
Amygdala damage eliminates monetary loss aversion
De Martino, B., Camerer, C. F., & Adolphs, R. (2010) · Proceedings of the National Academy of Sciences · doi:10.1073/pnas.0910230107 · Cited by 444
“, music CDs versus computer disks) (11) and more generally with emotional attachment (12).”
Background
Metadata
- Authors
- Ariely, D., Huber, J., & Wertenbroch, K.
- Affiliations
- Massachusetts Institute of Technology (US)
- Duke University (US)
- INSEAD (FR)
- Corresponding author
- Ariely, Dan
- Huber, Joel
- Wertenbroch, Klaus
- Venue
- Journal of Marketing Research
- Publisher
- SAGE Publications
- Published
- 2005-05
- Volume
- 42
- Issue
- 2
- Pages
- 134-138
- ISSN
- 0022-2437 (ISSN-L)
- 1547-7193
- OpenAlex
- W2061239943
- Cited by
- 267
- References
- 25
- Citations by year
- 2026: 4 · 2025: 12 · 2024: 9 · 2023: 14 · 2022: 11 · 2021: 22 · 2020: 11 · 2019: 13 · 2018: 23 · 2017: 16 · 2016: 17 · 2015: 19 · 2014: 20 · 2013: 12 · 2012: 14
- FWCI
- 4.47
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Marketing Research (publishedVersion)
- Topics
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Experimental Behavioral Economics Studies
- Social Sciences › Business, Management and Accounting › Marketing › Consumer Market Behavior and Pricing
- Keywords
- loss aversion, emotional attachment, cognitive approach, purchase decision, consumer behavior
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