We develop a theory of round-number bias via prospect theory and analog heuristics. * We test the prediction that bias is greatest in choices involving loss (cf. gain). * The theory is supported via analysis of both laboratory and real-world data. * Findings reveal the importance of the editing phase in prospect theory. * Findings have broad implications for inefficiencies in financial markets.


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    Titel :

    The prospect of a perfect ending: Loss aversion and the round-number bias




    Erscheinungsdatum :

    2015




    Medientyp :

    Aufsatz (Zeitschrift)


    Format :

    Print


    Sprache :

    Englisch



    Klassifikation :

    Lokalklassifikation FBW:    oek 7550
    BKL:    77.93 Angewandte Psychologie



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