期刊
AMERICAN ECONOMIC REVIEW
卷 101, 期 1, 页码 129-157出版社
AMER ECONOMIC ASSOC
DOI: 10.1257/aer.101.1.129
关键词
-
类别
Although experimental studies have documented systematic decision errors, many leading scholars believe that experience, competition, and large stakes will reliably extinguish biases. We test for the presence of a fundamental bias, loss aversion, in a high-stakes context: professional golfers' performance on the PGA Tour. Golf provides a natural setting to test for loss aversion because golfers are rewarded for the total number of strokes they take during a tournament, yet each individual hole has a salient reference point, par. We analyze over 2.5 million putts using precise laser measurements and find evidence that even the best golfers-including Tiger Woods-show evidence of loss aversion. (JEL D03, D81, L83)
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据