Loss aversion, which means that negative changes (losses) loom larger than equivalent positive changes (gains), is a ubiquitous behavior phenomenon in decision making field. Previous researches have focused on the mechanism of loss aversion in physical, cognitive and affective areas in order to recognize, predict and interfere the biases caused by loss aversion. The present project intends to explore the nature of loss aversion by utilizing laboratory experiment and large-scale questionnaire survey. Variables which influence loss aversion are to be explored, hoping to find out: (1) whether risk aversion is beyond loss aversion; (2) whether and how loss aversion behavior is affected by the route of losses/gains and the nature of loss. Besides, a nationwide survey is intended to be conducted to construct the national norm of loss aversion at status quo and to describe the differences in loss aversion across different individuals and groups. A better understanding of riskless loss aversion can offer psychological support to scientific and effective benefit coordination. The risky loss aversion which involves probability losses and gains simultaneity will provide theoretical guidance in building an innovation-oriented country and cultivating creative talents.
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