English, Article, Journal or magazine article edition: Previous outcomes and reference dependence: A meta study of repeated investment tasks with and without restricted feedback Hopfensitz, Astrid

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Bookmark: http://trove.nla.gov.au/version/168515
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Previous outcomes and reference dependence: A meta study of repeated investment tasks with and without restricted feedback
Author
  • Hopfensitz, Astrid
Physical Description
  • preprint
Notes
  • When investment is repeated, previous outcomes (winning/​losing) as well as the current budget level (gain/​loss domain) influence decisions. The first is related to the so-called "gamblers fallacy". The second to value function relative to some reference point. Both effects have been extensively studied, however not their interaction. We present a meta-study of five experiments initially conducted to investigate myopic-loss-aversion. We observe that investment is related to the number of previous winning rounds as well as to the current budget position relative to a reference point. These effects persist when the analysis is extended to settings with restricted flexibility concerning investment.
  • reference point; gamblers fallacy; meta study; experiment; risk taking; myopic loss aversion
  • RePEc:pra:mprapa:16096
Language
  • English
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