Change search
ReferencesLink to record
Permanent link

Direct link
Loss Aversion and Individual Characteristics
KTH, School of Architecture and the Built Environment (ABE), Centres, Centre for Transport Studies, CTS.
2011 (English)In: Environmental and Resource Economics, ISSN 0924-6460, E-ISSN 1573-1502, Vol. 49, no 4, 573-596 p.Article in journal (Refereed) Published
Abstract [en]

Many studies have shown that loss aversion affects the valuation of non-market goods. Using stated choice data, this paper presents an empirical investigation of how individual-level loss aversion varies with observable personal characteristics and with the choice context. We investigate loss aversion with respect to travel time and money, and find significant loss aversion in both dimensions. The degree of loss aversion in the time dimension is larger than in the money dimension, and depends on age and education. Subjects tend to be more loss averse when the reference is well established.

Place, publisher, year, edition, pages
2011. Vol. 49, no 4, 573-596 p.
Keyword [en]
Discrete choice model, Fixed effects logit estimator, Loss aversion, Non-market goods, Stated preference data
National Category
Civil Engineering
URN: urn:nbn:se:kth:diva-37146DOI: 10.1007/s10640-010-9455-5ISI: 000292653900006ScopusID: 2-s2.0-79960130274OAI: diva2:432378
Correction: In Appendix A: In the equations in lines 8, 13 and 17, ‘log w’ should be replaced by ‘w’. QC 20110803Available from: 2011-08-03 Created: 2011-08-02 Last updated: 2012-01-30Bibliographically approved

Open Access in DiVA

No full text

Other links

Publisher's full textScopus
By organisation
Centre for Transport Studies, CTS
In the same journal
Environmental and Resource Economics
Civil Engineering

Search outside of DiVA

GoogleGoogle Scholar
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Altmetric score

Total: 21 hits
ReferencesLink to record
Permanent link

Direct link