Replication data for: Loss Aversion and Consumption Choice: Theory and Experimental Evidence
Principal Investigator(s): View help for Principal Investigator(s) Heiko Karle; Georg Kirchsteiger; Martin Peitz
Version: View help for Version V1
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AEJMicro-2013-0104R1_data | 10/12/2019 10:13:PM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 06:13:PM |
Project Citation:
Karle, Heiko, Kirchsteiger, Georg, and Peitz, Martin. Replication data for: Loss Aversion and Consumption Choice: Theory and Experimental Evidence. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114322V1
Project Description
Summary:
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We analyze a consumer-choice model with price uncertainty, loss aversion, and expectation-based reference points. The implications of this model are tested in an experiment in which participants have to make a consumption choice between two sandwiches. Participants differ in their reported taste for the two sandwiches and in their degree of loss aversion, which we measure separately. We find that more-loss-averse participants are more likely to opt for the cheaper sandwich, in line with theoretical predictions. The estimates in the model with rational expectations are slightly more significant than those with naïve expectations. (JEL D11, D12, D84, M31)
Scope of Project
JEL Classification:
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D11 Consumer Economics: Theory
D12 Consumer Economics: Empirical Analysis
D84 Expectations; Speculations
M31 Marketing
D11 Consumer Economics: Theory
D12 Consumer Economics: Empirical Analysis
D84 Expectations; Speculations
M31 Marketing
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