TY  - JOUR
PY  - 1991//
TI  - Loss aversion in riskless choice: a reference dependent model
JO  - Quarterly journal of economics
A1  - Tversky, A.
A1  - Kahneman, Daniel
SP  - 1039
EP  - 1061
VL  - 106
IS  - 4
N2  - Much experimental evidence indicates that choice depends on the status quo or reference level: changes of reference point often lead to reversals of preference. We present a reference-dependent theory of consumer choice, which explains such effects by a deformation of indifference curves about the reference point. The central assumption of the theory is that losses and disadvantages have greater impact on preferences than gains and advantages. Implications of loss aversion for economic behavior are considered.<p /> <p>Language: en</p>
LA  - en
SN  - 0033-5533
UR  - http://dx.doi.org/10.2307/2937956
ID  - ref1
ER  -