House money effect – Google 學術搜尋結果

RH Thaler… – Management science, 1990 – JSTOR
We also present data from real money experiments supporting a “house money effect" (increased
risk seeking in the presence of a prior gain) and “break-even effects" (in the presence of prior
losses, outcomes which offer a chance to break even are especially attractive).
被引用 926 次相關文章全部共 6 個版本

M Weber… – Decision Analysis, 2005 –
When making sequential decisions, do prior gains induce more or less risk taking than prior
losses? Prior studies have found evidence for a housemoney effect, where risk taking increases
following gains. These studies also found seemingly contradictory evidence for escalation
被引用 43 次相關文章全部共 3 個版本 提供的 [PDF]LF Ackert, N Charupat, BK Church… – Experimental Economics, 2006 – Springer
Abstract There is evidence that risk-taking behavior is influenced by prior monetary gains and
losses. When endowed with house money, people become more risk taking. This paper is the
first to report a house money effect in a dynamic, financial setting. Using an experimental
被引用 36 次相關文章全部共 14 個版本

J Clark – Experimental Economics, 2002 – Springer
Yet there is some empirical evidence from economics and psychology that start-up money might
create a “house money effect.” People may spend or invest such money more recklessly than
they would their own, even with wealth effects taken into account.
被引用 58 次相關文章全部共 7 個版本

K Keasey… – Economics Letters, 1996 – Elsevier
While previous studies have shown that the presence of a prior gain (or loss) can
influence the risk attitude of the decisionmaker the socalled ‘house moneyeffect
this evidence derives from a series of monetary gambles. This
被引用 45 次相關文章全部共 6 個版本 提供的 [PDF]D Kahneman, JL Knetsch… – The Journal of Political Economy, 1990 – JSTOR
that eliminated the possibility of an income effect or cash constraint. As shown in tables 2-4,
subjects showed almost no undertrading even in their first trial in an induced-value market.
Evidently neither bargaining habits nor any transaction costs impede trading in money tokens.
被引用 1861 次相關文章全部共 46 個版本
Noted by YI-Nung: 這篇中的 Coase theorem 係指在外部性理論中所提及的, 只要 no transaction costs, 財產權在何者手上不影響最 Coase theorem 最後 efficient outcome 提供的 [PDF]M Weber… – 2001 –
Abstract: In an experiment we study the influence of prior outcomes on risky choice. We document
a strong framing effect. By manipulating the presentation format of the decision problem we can
induce increased risk taking following a gain, ie the housemoney effect (Thaler and
被引用 12 次相關文章HTML 版全部共 8 個版本

A Frino, J Grant… – Pacific-Basin Finance Journal, 2008 – Elsevier
The “house money effect” describes the psychological tendency of investors to become increasingly
risk-seeking immediately following monetary gains. We observe evidence consistent with this
behavioral bias in the trades executed by professional futures traders (“locals”) on the
被引用 10 次相關文章全部共 5 個版本 提供的 [PDF]GW Harrison – Experimental Economics, 2007 – Springer
The house money effect is estimated to reduce the probability of providing something by 8.2
percentage points, compared to a pooled average of 73%.8 This esti- mated effect is statistically
significantly different from zero (p-value = 0.010), and the 95% confidence interval for the
被引用 20 次相關文章全部共 12 個版本 提供的 [PDF]RH Thaler – Financial Analysts Journal, 1999 – JSTOR
They could do so only by adding another behavioral factor: the “house money effect." The house
money effect captures the intu- ition that when gamblers are ahead (playing with what they refer
to as the “house’s money“), they become less loss averse and more willing to take
被引用 241 次相關文章全部共 8 個版本