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

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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: 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:
      D11 Consumer Economics: Theory
      D12 Consumer Economics: Empirical Analysis
      D84 Expectations; Speculations
      M31 Marketing

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V1 [2019-10-12]

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