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Asymmetric discounting of gains and losses: A query theory account

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  • Kirstin Appelt
  • David Hardisty
  • Elke Weber

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  • Kirstin Appelt & David Hardisty & Elke Weber, 2011. "Asymmetric discounting of gains and losses: A query theory account," Journal of Risk and Uncertainty, Springer, vol. 43(2), pages 107-126, October.
    • Handle: RePEc:kap:jrisku:v:43:y:2011:i:2:p:107-126
    DOI: 10.1007/s11166-011-9125-1
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    1. Richard H. Thaler & Shlomo Benartzi, 2004. "Save More Tomorrow (TM): Using Behavioral Economics to Increase Employee Saving," Journal of Political Economy, University of Chicago Press, vol. 112(S1), pages 164-187, February.
    2. Weber, Bethany J. & Chapman, Gretchen B., 2005. "The combined effects of risk and time on choice: Does uncertainty eliminate the immediacy effect? Does delay eliminate the certainty effect?," Organizational Behavior and Human Decision Processes, Elsevier, vol. 96(2), pages 104-118, March.
    3. Amos Tversky & Daniel Kahneman, 1991. "Loss Aversion in Riskless Choice: A Reference-Dependent Model," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(4), pages 1039-1061.
    4. Thaler, Richard, 1981. "Some empirical evidence on dynamic inconsistency," Economics Letters, Elsevier, vol. 8(3), pages 201-207.
    5. Harrell Chesson & Jami Leichliter & Gregory Zimet & Susan Rosenthal & David Bernstein & Kenneth Fife, 2006. "Discount rates and risky sexual behaviors among teenagers and young adults," Journal of Risk and Uncertainty, Springer, vol. 32(3), pages 217-230, May.
    6. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
    7. Keith Coble & Jayson Lusk, 2010. "At the nexus of risk and time preferences: An experimental investigation," Journal of Risk and Uncertainty, Springer, vol. 41(1), pages 67-79, August.
    8. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 443-478.
    9. Christopher Chabris & David Laibson & Carrie Morris & Jonathon Schuldt & Dmitry Taubinsky, 2008. "Individual laboratory-measured discount rates predict field behavior," Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 237-269, December.
    10. Shane Frederick & George Loewenstein, 2008. "Conflicting motives in evaluations of sequences," Journal of Risk and Uncertainty, Springer, vol. 37(2), pages 221-235, December.
    11. Weber, Elke U. & Hsee, Christopher K. & Sokolowska, Joanna, 1998. "What Folklore Tells Us about Risk and Risk Taking: Cross-Cultural Comparisons of American, German, and Chinese Proverbs, , ," Organizational Behavior and Human Decision Processes, Elsevier, vol. 75(2), pages 170-186, August.
    12. George F. Loewenstein, 1988. "Frames of Mind in Intertemporal Choice," Management Science, INFORMS, vol. 34(2), pages 200-214, February.
    13. Uri Benzion & Amnon Rapoport & Joseph Yagil, 1989. "Discount Rates Inferred from Decisions: An Experimental Study," Management Science, INFORMS, vol. 35(3), pages 270-284, March.
    14. Benhabib, Jess & Bisin, Alberto & Schotter, Andrew, 2010. "Present-bias, quasi-hyperbolic discounting, and fixed costs," Games and Economic Behavior, Elsevier, vol. 69(2), pages 205-223, July.
    15. Paul A. Samuelson, 1937. "A Note on Measurement of Utility," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 4(2), pages 155-161.
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    Citations

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    Cited by:

    1. Min Gong & David Krantz & Elke Weber, 2014. "Why Chinese discount future financial and environmental gains but not losses more than Americans," Journal of Risk and Uncertainty, Springer, vol. 49(2), pages 103-124, October.
    2. Youki Kohsaka & Grzegorz Mardyla & Shinji Takenaka & Yoshiro Tsutsui, 2017. "Disposition Effect and Diminishing Sensitivity: An Analysis Based on a Simulated Experimental Stock Market," Journal of Behavioral Finance, Taylor & Francis Journals, vol. 18(2), pages 189-201, April.
    3. repec:cup:judgdm:v:12:y:2017:i:2:p:173-182 is not listed on IDEAS
    4. Breuer, Wolfgang & Soypak, K. Can, 2015. "Framing effects in intertemporal choice tasks and financial implications," Journal of Economic Psychology, Elsevier, vol. 51(C), pages 152-167.
    5. Ring, Patrick & Probst, Catharina C. & Neyse, Levent & Wolff, Stephan & Kaernbach, Christian & van Eimeren, Thilo & Schmidt, Ulrich, 2021. "Discounting Behavior in Problem Gambling," Open Access Publications from Kiel Institute for the World Economy 240211, Kiel Institute for the World Economy (IfW Kiel).
    6. Meredith S. Berry & Norma P. Nickerson & Amy L. Odum, 2017. "Delay Discounting as an Index of Sustainable Behavior: Devaluation of Future Air Quality and Implications for Public Health," IJERPH, MDPI, vol. 14(9), pages 1-14, September.
    7. Ring, Patrick & Probst, Catharina C. & Neyse, Levent & Wolff, Stephan & Kaernbach, Christian & van Eimeren, Thilo & Schmidt, Ulrich, 2022. "Discounting Behavior in Problem Gambling," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 38(2), pages 529-543.
    8. Marco Casari & Davide Dragone, 2015. "Choice reversal without temptation: A dynamic experiment on time preferences," Journal of Risk and Uncertainty, Springer, vol. 50(2), pages 119-140, April.
    9. Jonathan Cohen & Keith Marzilli Ericson & David Laibson & John Myles White, 2020. "Measuring Time Preferences," Journal of Economic Literature, American Economic Association, vol. 58(2), pages 299-347, June.
    10. Anna Katharina Spälti & Mark J. Brandt & Marcel Zeelenberg, 2017. "Memory retrieval processes help explain the incumbency advantage," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 12(2), pages 173-182, March.
    11. Renata M. Heilman & Petko Kusev & Mircea Miclea & Joseph Teal & Rose Martin & Alessia Passanisi & Ugo Pace, 2021. "Are Impulsive Decisions Always Irrational? An Experimental Investigation of Impulsive Decisions in the Domains of Gains and Losses," IJERPH, MDPI, vol. 18(16), pages 1-14, August.
    12. Przemysław Sawicki & Michał Białek, 2016. "Side Effects in Time Discounting Procedures: Fixed Alternatives Become the Reference Point," PLOS ONE, Public Library of Science, vol. 11(10), pages 1-11, October.

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    More about this item

    Keywords

    Intertemporal choice; Discounting; Losses; Constructed preference; Query theory; D90;
    All these keywords.

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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