Loss AversionAdaptive MarketsProcedural RationalityAgent-based ModelingReinforcement LearningThis paper develops an agent-based model of learning process that systematically organizes actual choice behavior along the path to equilibrium. The model relieSocial Science Electronic Publishing...
The tendency is called ''loss aversion''; people hold on to poor investments grimly, hoping for a turnaround.───这种倾向被称为“损失厌恶”(lossaversion):人们死捞着糟糕的投资项目不放,希望能有翻身的一天。 Prof. Frank speculates that this loss aversion may have evolutionary roots.───弗兰...
②回避损失(loss-aversion):趋利避害是人类行为的主要动机之一,而在经济活动中,人们对“趋利”与“避害”的选择是首先考 … baike.baidu.com|基于28个网页 2. 损失趋避 发现探讨损失趋避(loss-aversion)与后悔趋避(regret-aversion)等对保证投资收益
Loss aversion is a cognitive bias that means we're affected more deeply by losing than gaining something. For example, if you lose 50 dollars, the pain will be far more than the joy you experience if you win the same amount.This concept is part of the prospect theory, developed in 1979...
For a consumer, economic decisions are based on certain types of behavior. Prospect Theory or the loss-aversion theory in behavioral economics and behavioral finance, aims to determine people’s decision making and their tendency for loss aversion.
Loss aversion is thus related to fundamental characteristics of entire legal fields and their relative importance.The Article also strives to explain the compatibility between loss aversion and the law. According to an evolutionary theory, since losses are more painful than unattained gains, people ...
We consider a Cournot oligopoly model where multiple suppliers (oligopolists) compete by choosing quantities. We compare the social welfare achieved at a Cournot equilibrium to the maximum possible, for the case where the inverse market demand function is convex. We establish a lower bound on the...
There are several possible explanations for loss aversion. Psychologists point to how our brains are wired and that over the course of our evolutionary history, protecting against losses has been more advantageous for survival than seeking gains. Sociologists point to the fact that we are socially ...
We test the dynamic aspects of the loss aversion feature of Kahneman and Tversky (Prospect theory: an analysis of decision under risk. Econometrica 47:263–291, 1979) and find that idiosyncratic volatility is negatively associated with unrealized gains of stock returns. Moreover, we show that thi...
Loss aversion in psychology refers to the emotional side of investing, namely the negative sentiment associated with recognizing a loss and its psychological effects.