Causes, Consequences, and Cures of Myopic Loss Aversion – An Experimental Investigation*

Fellner, G., & Sutter, M. (2009). Causes, Consequences, and Cures of Myopic Loss Aversion–An Experimental Investigation*. The Economic Journal, 119(537), 900-916. (Volume 119, Issue 537, ) DOI: 10.1111/j.1468-0297.2009.02251.x; uibk.ac.at 提供的2008年版 [PDF]; hu-berlin.de 提供的 2005年版[PDF]; ***

==notes by yinung==

這篇有讓 subject 內生決定 H1 或 H3
(投資1期/3期)

==主要實驗結果圖表==

實驗基本設定

image

符號意義:

H1/3: investment 1/3 period
F1: Feedback, 1 period

 

image

 

第1期決定以後不能更能 H1/3

No-profit: 沒有給 profit 資訊
Profit:有給「告訴 subject, 選 3期, 其平均 profit 較高 」資訊

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內生決定 feedback: F1/3, 但每期都可投資

Profit: 和前述相同

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第1期被指定 H1/3; 第3期開始可以自訂(每3期一次), 轉換成本 40ECU (約報酬的 2.6%)

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==original abstract==

We use an experiment to examine the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both investment horizons and feedback frequency contribute almost equally to the effects of MLA. Longer investment horizons and less frequent feedback lead to higher investments. However, when given the choice, subjects prefer on average shorter investment horizons and more frequent feedback. Exploiting the status quo bias by setting a long investment horizon or low feedback frequency as a default turns out to be a successful behavioural intervention to increase investment levels.
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One comment on “Causes, Consequences, and Cures of Myopic Loss Aversion – An Experimental Investigation*

  1. 引用通告: The effect of short-term information on long-term investment: An experimental study* | 行為 & 經濟實驗文獻注 (備忘) by 楊奕農

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