Johnson, Eric J. (contributor); Gächter, Simon (contributor) - 2006
Loss aversion, the fact that losses have a greater impact than gains, is a fundamental property of behavioral accounts … of choice. In this paper, we suggest four possible characterizations of the relative impact of losses and gains: (1) It … could be a constant, such as the much cited value of 2, as in losses have twice the impact of gains. (2) It could be a …