Replication data for: The Realization Effect: Risk-Taking after Realized versus Paper Losses

Principal Investigator(s):  View help for Principal Investigator(s) Alex Imas

Version:  View help for Version V1

Name File Type Size Last Modified
  20140386_data 10/26/2021 01:09:PM
LICENSE.txt text/plain 14.6 KB 12/06/2019 12:04:PM

Project Citation: 

Imas, Alex. Replication data for: The Realization Effect: Risk-Taking after Realized versus Paper Losses. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116155V1

Project Description

Summary:  View help for Summary Understanding how prior outcomes affect risk attitudes is critical for the study of choice under uncertainty. A large literature documents the significant influence of prior losses on risk attitudes. The findings appear contradictory: some studies find greater risk-taking after a loss, whereas others show the opposite—that people take on less risk. I reconcile these seemingly inconsistent findings by distinguishing between realized versus paper losses. Using new and existing data, I replicate prior findings and demonstrate that following a realized loss, individuals avoid risk; if the same loss is not realized, a paper loss, individuals take on greater risk.

Scope of Project

Subject Terms:  View help for Subject Terms Behavioral Economics; Experiment
JEL Classification:  View help for JEL Classification
      D11 Consumer Economics: Theory
      D14 Household Saving; Personal Finance
      D81 Criteria for Decision-Making under Risk and Uncertainty
      G11 Portfolio Choice; Investment Decisions
Geographic Coverage:  View help for Geographic Coverage United States
Time Period(s):  View help for Time Period(s) 2014 – 2016
Data Type(s):  View help for Data Type(s) experimental data

Methodology

Unit(s) of Observation:  View help for Unit(s) of Observation Individual Behavior,

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Published Versions

V1 [2019-12-06]

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