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Meta-Analysis of Empirical Estimates of Loss Aversion

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  • Brown, Alexander L.
  • Imai, Taisuke

    (Osaka University)

  • Vieider, Ferdinand
  • Camerer, Colin

Abstract

Loss aversion is one of the most widely used concepts in behavioral economics. We conduct a large-scale, interdisciplinary meta-analysis, to systematically accumulate knowledge from numerous empirical estimates of the loss aversion coefficient reported from 1992 to 2017. We examine 607 empirical estimates of loss aversion from 150 articles in economics, psychology, neuroscience, and several other disciplines. Our analysis indicates that the mean loss aversion coefficient is 1.955 with a 95% probability that the true value falls in the interval [1.820, 2.105]. We record several observable characteristics of the study designs. Few characteristics are substantially correlated with differences in the mean estimates.

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  • Brown, Alexander L. & Imai, Taisuke & Vieider, Ferdinand & Camerer, Colin, 2020. "Meta-Analysis of Empirical Estimates of Loss Aversion," MetaArXiv hnefr_v1, Center for Open Science.
    • Handle: RePEc:osf:metaar:hnefr_v1
    DOI: 10.31219/osf.io/hnefr_v1
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