Meta-analysis of Empirical Estimates of Loss Aversion
Camerer, Colin F. Imai, Taisuke Vieider, Ferdinand M. 2024 Brown, Alexander L.
Meta-analysis of Empirical Estimates of Loss Aversion - Journal of Economic Literature 2024 - 485-516
Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale, interdisciplinary meta-analysis to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported from 1992 to 2017. We examine 607 empirical estimates of loss aversion from 150 articles in economics, psychology, neuroscience, and several other disciplines. Our analysis indicates that the mean loss aversion coefficient is 1.955 with a 95 percent probability that the true value falls in the interval [1.820, 2.102]. We record several observable characteristics of the study designs. Few characteristics are substantially correlated with differences in the mean estimates.
0022-0515
Cognitive Factors on Decision Making
Criteria for Decision-Making
Micro-Based Behavioral Economics
Risk and Uncertainty
Meta-analysis of Empirical Estimates of Loss Aversion - Journal of Economic Literature 2024 - 485-516
Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale, interdisciplinary meta-analysis to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported from 1992 to 2017. We examine 607 empirical estimates of loss aversion from 150 articles in economics, psychology, neuroscience, and several other disciplines. Our analysis indicates that the mean loss aversion coefficient is 1.955 with a 95 percent probability that the true value falls in the interval [1.820, 2.102]. We record several observable characteristics of the study designs. Few characteristics are substantially correlated with differences in the mean estimates.
0022-0515
Cognitive Factors on Decision Making
Criteria for Decision-Making
Micro-Based Behavioral Economics
Risk and Uncertainty