Loss aversion, the principle that losses loom larger than gains, is among the most widely
accepted ideas in the social sciences. The first part of this article introduces and discusses …

People are often reluctant to trade, a reticence attributed to the endowment effect. The
prevailing account attributes the endowment effect to valuation-related bias, manifesting as …

A person's propensity to attribute more weight to a loss than a gain of equal magnitude is
known as “loss aversion.” Loss aversion is a component of the prospect theory (which …

Computational modeling of cognition allows latent psychological variables to be measured
by means of adjustable model parameters. The estimation and interpretation of the …

Loss aversion, the argument that losses are given more weight than gains, has been
recently shown to be absent in small losses. However, a series of studies by Mrkva et …

The endowment effect occurs when people assign a higher value to an item they own than
to the same item when they do not own it, and this effect is often taken to reflect an …

Research suggests that people are less sensitive to variations in probability in affect‐rich
compared with affect‐poor risky choices. This effect is modeled by a more curved probability …

The size of the Willingness To Accept (WTA)/Willingness To Pay (WTP) disparity is
compared using the Becker–DeGroot–Marschak (BDM) and multiple price list (MPL) …

Buyers in the property market often use an agent who is employed by the seller to assist
their home searches. This unique and widely used agency arrangement in the property …

Theories that describe how people assign prices and make choices are typically based on
the idea that both of these responses are derived from a common static, deterministic …