Self–other decision making and loss aversion

• Published in: Organizational behavior and human decision processes Vol. 119; no. 2; pp. 141 - 150
• Main Author: Polman, Evan
• Format: Journal Article
• Language: English
• Published: Kidlington Elsevier Inc 01.11.2012; Elsevier; Elsevier Science Publishing Company, Inc
• Subjects: Anxiety; Bias; Biological and medical sciences; Case studies; Cognition. Intelligence; Construal; Construal level; Decision analysis; Decision Making; Decision making. Choice; Fundamental and applied biological sciences. Psychology; Gambling; Information Seeking; Loss; Loss aversion; Losses; Omission bias; Power; Power Structure; Prediction; Psychology. Psychoanalysis. Psychiatry; Psychology. Psychophysiology; Regulatory focus; Regulatory policy; Risk aversion; Selection; Self; Self–other decision making; Social factors; Studies; Information seeking; Construal level; Regulatory focus; Omission bias; Self–other decision making; Power; Loss aversion; Human; Choice; Decision making; Information retrieval; Self-other decision making; Cognition; Experimental study

► We found that making choices for others reduces loss aversion. ► In eight studies, we found this pattern across different domains and measures. ► We found this pattern when people were paid for making choices for others. ► We found this pattern in real-life choices with money at stake. ► We invest...