Does commitment or feedback influence myopic loss aversion?: An experimental analysis

Thomas Langer and Martin Weber (2008) " Does commitment or feedback influence myopic loss aversion?: An experimental analysis" Journal of Economic Behavior & Organization, Volume 67, Issues 3-4, September 2008, Pages 810-819. via DOI;

這篇和 Langer andWeber (2008) 重覆

Notes by Yi-Nung

這篇將投資期間長/短 , 和資訊迴饋頻率 (frequent/infrequent) 兩種因素進行交叉實驗, 實驗結果和 Bellemare et al. (2005) 的並不十分一致; Bellemare et al. (2005) 主要實驗設計在於資訊迴饋頻率 frequent/infrequent, 其 treatment 有三種:

H: 投資期間1期, 資訊迴饋頻率每1期
M: 投資期間3期, 資訊迴饋頻率每1期
L: 投資期間3期, 資訊迴饋頻率每3期

Bellemare et al. (2005) 實驗結果是: 投資額度 L~M>H

Original Abstract

Empirical research has demonstrated that a lower feedback frequency combined with a longer period of commitment decreases myopia and thereby increases the willingness to invest in a risky asset. In an experimental study, we disentangle the intertwined manipulation of feedback frequency and commitment to analyze how each individual variable contributes to the change in myopia and how they interact. We find that the period of commitment exerts a substantial impact and the feedback frequency a far less pronounced impact. There is a strong interaction between both variables. The results have significant implications for real world intertemporal decision making.

Keywords: Intertemporal decision making; Myopic loss aversion; Feedback frequency; Length of commitment; Evaluation period


Bellemare et al. (2005) Myopic loss aversion: Information feedback vs. investment flexibility, Economics Letters, Volume 87, Issue 3, June 2005, Pages 319-324.