Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 57 for “"loss aversion"”.
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LOSS AVERSION AND THE INTERGENERATIONAL CORRELATION OF INCOME
… Heterogeneous agents in the model are loss averse and must choose their education level after learning their "earning ability" and inheriting a reference level of consumption and bequest from the previous generation. These agents make education choices in part to avoid losses relative …
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Essays on loss aversion and household portfolio choice
"This dissertation studies how loss-aversion, i.e., people's behavioral tendency to be more sensitive to potential losses than the same amount of potential gains, affects households' insurance buying decisions and savings decisions. The first chapter, ""Prospect Theory and Insurance Demand,"" tries …
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Age and Loss Aversion: Impact on PGA Tour Professionals
… these players exhibit risk-seeking behavior in losses and risk-averse behavior in gains. However, age did not significantly affect players' risk-seeking or risk aversion behaviors.
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Prospective Balance: Loss Aversion and Consistency in International Relations
… theory, in which states are risk acceptant for loss but risk averse for gain, and the dynamics of deterrence theory serve as intervening variables. Characteristic actor behaviors, identified as perceptual syndrome, intentional clarity, widespread loss aversion, and affective abandonment of …
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THE EFFECTS OF LOSS AVERSION ON TRADE POLICY: THEORY AND EVIDENCE
We study the implications of loss aversion for trade policy determination and show how it allows us to explain a number of important and puzzling features of trade policy. An important question concerning trade policy is why a disproportionate share of protection goes to declining industries. We …
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The Impact of Loss Aversion and Market Sentiment on Implied Volatility Skews.
The thesis “The Impact of Loss Aversion and Investor Sentiment on Implied Volatility Skews” examines how market participants’ behaviour influences the pricing of equity options. Option Pricing has historically been a purely neoclassical topic, however, articles which link option pricing to …
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Antecedents and Consequences of Loss Aversion: Mental Accounting and Allocation of Attention
… attention and preferences. In the first essay, loss aversion is an important antecedent and moderator of the principle’s effect on preferences, and in the latter two we hypothesize both antecedent (Essay Two) and consequent (Essay Three) roles for loss aversion with respect to attention. The …
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Using the Concepts of Framing and Loss Aversion to Answer Pertinent Questions on Cooperative Behaviors in Social Dilemmas
Two hypotheses, formulated using the concept of framing, were proposed in an attempt to understand better the behaviors of cooperators in social dilemmas. The first hypothesis was constructed in response to Schwartz-Shea and Simmon's (1995) criticism on the applicability of the framing concept to …
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Essays on statistical economics with applications to financial market instability, limit distribution of loss aversion, and harmonic probability weighting functions
… the first known limit distribution of the myopic loss aversion (MLA) index derived from micro-foundations of behavioural economics. That discovery predicts several new results. We prove that the MLA index is in the class of α-stable distributions. This striking prediction is upheld empirically …
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Prospect Theory in the Housing Market
Loss aversion, a behavioural bias on people’s asymmetric attitudes towards losses and gains, is a core concept in prospect theory. Similar to behavioural sciences in general, loss aversion has been widely applied in various research areas. However, evidence of this concept in residential real …
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Essays in Behavioral Economics: Applying Prospect theory to Auctions
… to underlying ambiguity and anticipated loss aversion. Using data from experimental auctions, I provide evidence that in induced-value auctions with human bidders, this approach works well. In auctions with prior experience and /or against risk-neutral Nash rivals where ambiguity effects …
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Essays in Financial Economics
… economics. This first essay studies the issue of loss-aversion and household portfolio choice. Calibrated models of household portfolio choice generate two counterfactual predictions: that all households will participate in equity markets, and that households will allocate all of their wealth to …
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Optimal Plan Design and Dynamic Asset Allocation of Defined Contribution Pension Plans: Lessons from Behavioural Finance and Non-expected Utility Theories
… two alternative utility forms are considered: loss aversion and Epstein-Zin recursive utility. We develop a dynamic-programming-based numerical model with uninsurable stochastic labour income and borrowing constraints. In the loss aversion case, members are assumed to be loss averse with a …
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Default Effects in the Endorsement of Environmental Policies
… examined the default effect and the role of loss aversion and implied endorsement in the context of environmental policy. Two hundred nineteen undergraduate participants were asked to vote on an ostensible ballot question regarding the enactment of seven environmental policies. Participants …
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Equilibrium Implications of Social Utility and Reference Dependence
… by the presence of reference prices and consumer loss aversion.</p><p>The first essay looks at the fashion industry, where product demand is largely driven by consumers' desire to signal their social status through product usage, and theoretically explains why fashion hits appear to be randomly …
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The Endowment Effect: A Self-Enhancement Perspective
… effect has been explained as a manifestation of loss aversion from the reference point of ownership.</p> <p>Though prior research has examined various cognitive and affective processes underlying the endowment effect, some fundamental questions remain unanswered. These questions pertain to the …
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Essays on Housing Market Search and Dynamics
… looks at the effects of equity constraints and loss aversion on the home selling problem. The empirical findings are consistent with a search model where sellers with low equity in their homes and sellers subject to nominal losses have higher reservation prices because of downpayment constraints …
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Examining financial puzzles from an evolutionary perspective
… literature. Examples include overreaction, loss aversion, and the equity premium puzzle. Following this, we discuss risk-sensitive optimal foraging theory further and examine some of the financial puzzles using the framework of risk-sensitive foraging. Finally, we develop a dynamic patch …
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Essays in real estate finance
… co-authored with David Geltner, we document that loss aversion behavior plays a major role in the pricing of commercial properties, and it varies both across the type of market participants and across the cycle. We find that sophisticated and more experienced investors are at least as loss averse …
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