Myopic Loss Aversion under Ambiguity and Gender Effects

Date: 2013-07
By: Iñigo Iturbe-Ormaetxe Kortajarene (Universidad de Alicante)
Giovanni Ponti (Universidad de Alicante)
Josefa Tomás (Universidad de Alicante)
URL: http://d.repec.org/n?u=RePEc:ivi:wpasad:2013-05&r=net
Experimental evidence suggests that the frequency with which individuals get feedback information on their investments has an effect on risk-taking behavior. In particular, when they are given information sufficiently often, they take fewer risks compared with a situation in which they are informed less frequently. In this paper we find that this result still holds when subjects do not know the probabilities of the lotteries they are betting upon. We also detect significant gender effects, in that the frequency with which information is disclosed mostly affects men’s betting behavior, rather than women’s, and that men are much more risk-seeking after experiencing a loss.
Keywords: Myopic loss aversion, evaluation periods, ambiguity, gender effects
JEL: C91
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No myopic loss aversion in adolescents? – An experimental note

Date: 2013-03
By: Daniela Glätzle-Rützler
Matthias Sutter
Achim Zeileis
URL: http://d.repec.org/n?u=RePEc:inn:wpaper:2013-07&r=net
Myopic loss aversion (MLA) has been found to play a persistent role for investment behavior under risk. We study whether MLA is already present during adolescence. Quite surprisingly, we find no evidence of MLA in a sample of 755 adolescents. This finding is at odds with previous findings, and it might be explained by self-selection effects. In other dimensions, however, we are able to replicate stylized findings in our pool of adolescents, such that teams invest higher amounts than individuals and that women invest less than men.
Keywords: myopic loss aversion, experiment, adolescents, team-decision making
JEL: C91