Abeler, Johannes; Falk, Armin; Goette, Lorenz; Huffman, … - Institute for the Study of Labor (IZA) - 2009
: reference points, expectations, loss aversion, risk aversion, disappointment,
experiment
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Johannes … (higher) xed payment. Loss
aversion1 relative to expectations thus provides an additional incentive for an in-
dividual to … are higher than the xed
payment, the incentive e ect of loss aversion is reversed: now, the subject might
end up with the …