Loss aversion, diminishing sensitivity, and the effect of experience on repeated decisions†

@article{Erev2008LossAD,
  title={Loss aversion, diminishing sensitivity, and the effect of experience on repeated decisions†},
  author={Ido Erev and Eyal Ert and Eldad Yechiam},
  journal={Journal of Behavioral Decision Making},
  year={2008},
  volume={21},
  pages={575-597}
}
Three experiments are presented that explore the assertion that loss aversion and diminishing sensitivity drive the effect of experience on choice behavior. The experiments are focused on repeated choice tasks where decision makers choose repeatedly between alternatives and get feedback after each choice. Experiments 1a and 1b show that behavioral tendencies that were previously interpreted as indications of loss aversion in decisions from experience are better described as products of… 

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