On the Psychology of Loss Aversion
Possession, Valence, and Reversals of the Endowment Effect: Table 1
Bibliographic Data
| ID | 2220064 |
|---|---|
| Authors | Lyle Brenner (University of Florida), Yuval Rottenstreich (0000-0003-0201-3748, New York University), Sanjay Sood (0000-0002-3418-6347, University of California, Los Angeles), Baler Bilgin (0000-0003-3703-512X, University of Florida) |
| Year | 2007 |
| Volume | 34 |
| Issue | 3 |
| Pages | 369-376 |
| Publication date | 2007-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Consumer Research (JOURNAL) |
| Journal identifiers | ISSN: 0093-5301 • E-ISSN: 1537-5277 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1086/518545 |
| OpenAlex | W2151871735 |
| Language | EN |
| Citations received | 33 |
| References cited | 25 |
Loss aversion states that “losses loom larger than gains.” We consider two types of loss aversion defined by two interpretations of loss. A loss can be defined (1) in terms of valence or (2) in terms of possession. Correspondingly, valence loss aversion (VLA) entails greater sensitivity to negative (vs. positive) changes, and possession loss aversion (PLA) entails greater sensitivity to items leaving (vs. entering) one's possession. Both types of loss aversion imply an endowment effect for attractive items, but PLA implies a reversal of the endowment effect for unattractive items. Experimental results show endowment effect reversals consistent with PLA
Economics · Endowment effect · Loss aversion · Microeconomics · Possession (linguistics) · Prospect theory · Valence (chemistry) · Chemistry · Decision-Making and Behavioral Economics · Experimental Behavioral Economics Studies · Psychology · Psychology of Social Influence · Social Psychology
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| Unique citing works | 33 |
|---|---|
| Citations per year | 1,94 |
| Citation span | 2009 - 2026 (18) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 32 |