Data and Code for: Dynamic Regret Avoidance
Principal Investigator(s): View help for Principal Investigator(s) Michele Fioretti, Sciences Po; Alexander Vostroknutov, Maastricht University; Giorgio Coricelli, University of Southern California
Version: View help for Version V1
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DRA_Rcode | 06/01/2021 06:10:AM | ||
datapreparation | 06/01/2021 08:54:AM | ||
reduced-form-analysis | 04/09/2021 10:38:AM | ||
ztreecode | 01/12/2021 05:09:AM | ||
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text/plain | 11.5 KB | 06/01/2021 04:52:AM |
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application/zip | 468.8 MB | 04/02/2021 04:01:AM |
Project Citation:
Fioretti, Michele, Vostroknutov, Alexander, and Coricelli, Giorgio. Data and Code for: Dynamic Regret Avoidance. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-01-25. https://doi.org/10.3886/E130441V1
Project Description
Summary:
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In a stock market experiment we examine how regret avoidance influences the decision to sell an asset while its price changes over time. Participants know beforehand whether they will observe the future prices after they sell the asset or not. Without future prices participants are affected only by regret about previously observed high prices (past regret), but, when future prices are available, they also avoid regret about expected after-sale high prices (future regret). Moreover, as the relative sizes of past and future regret change, participants dynamically switch between them. This demonstrates how multiple reference points dynamically influence sales.
Funding Sources:
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European Research Council (617629)
Scope of Project
JEL Classification:
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C91 Design of Experiments: Laboratory, Individual
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
C91 Design of Experiments: Laboratory, Individual
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
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