Law, psychology, and morality : the role of loss aversion

Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss... Full description

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Bibliographic Details
Published:	New York : Oxford University Press, 2014
Persons:	Zamir, Eyal -
Format:	Book / E-Book
Language:	English
Keywords:	Law and economics Economics / Psychological aspects Actions and defenses / Psychological aspects Loss aversion Cognitive psychology more... less...
Physical description:	1 online resource
ISBN:	9780190215064

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