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Direct linkWillemsen, Martijn C.; Bockenholt, Ulf; Johnson, Eric J. – Journal of Experimental Psychology: General, 2011
Loss aversion and reference dependence are 2 keystones of behavioral theories of choice, but little is known about their underlying cognitive processes. We suggest an additional account for loss aversion that supplements the current account of the value encoding of attributes as gains or losses relative to a reference point, introducing a value…
Descriptors: Evidence, Cognitive Processes, Comparative Analysis, Self Efficacy
