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Deciding for Others...
Deciding for Others Reduces Loss Aversion
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- Andersson, Ola (författare)
- Uppsala universitet,Lund University,Lunds universitet,Nationalekonomiska institutionen,Ekonomihögskolan,Department of Economics,Lund University School of Economics and Management, LUSEM,Research Institute of Industrial Economics
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- Holm, Jerker (författare)
- Lund University,Lunds universitet,Nationalekonomiska institutionen,Ekonomihögskolan,Department of Economics,Lund University School of Economics and Management, LUSEM
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- Tyran, Jean-Robert (författare)
- University of Copenhagen,University of Vienna
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- Wengström, Erik (författare)
- Lund University,Lunds universitet,Nationalekonomiska institutionen,Ekonomihögskolan,Department of Economics,Lund University School of Economics and Management, LUSEM,University of Copenhagen
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(creator_code:org_t)
- Institute for Operations Research and the Management Sciences (INFORMS), 2016
- 2016
- Engelska 8 s.
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Ingår i: Management Science. - : Institute for Operations Research and the Management Sciences (INFORMS). - 0025-1909 .- 1526-5501. ; 62:1, s. 29-36
- Relaterad länk:
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http://dx.doi.org/10...
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http://project.nek.l...
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https://lup.lub.lu.s...
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https://doi.org/10.1...
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https://urn.kb.se/re...
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Abstract
Ämnesord
Stäng
- We study risk taking on behalf of others, both when choices involve losses and when they do not. A large-scale incentivized experiment with subjects randomly drawn from the Danish population is conducted. We find that deciding for others reduces loss aversion. When choosing between risky prospects for which losses are ruled out by design, subjects make the same choices for themselves as for others. In contrast, when losses are possible, we find that the two types of choices differ. In particular, we find that subjects who make choices for themselves take less risk than those who decide for others when losses loom. This finding is consistent with an interpretation of loss aversion as a bias in decision making driven by emotions and that these emotions are reduced when making decisions for others.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Economics (hsv//eng)
Nyckelord
- risk taking
- loss aversion
- experiment
- Management Science and Operations Research
Publikations- och innehållstyp
- art (ämneskategori)
- ref (ämneskategori)
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