Do MTurkers exhibit myopic loss aversion?
We present results from a highly powered online experiment with 937 participants on Amazon Mechanical Turk (MTurk) that examined whether MTurkers exhibit myopic loss aversion (MLA). The experiment consisted of measuring MLA-compliant behavior in two between-subjects treatments that differed only reg...
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| Published in | Economics letters Vol. 209; p. 110137 |
|---|---|
| Main Authors | , |
| Format | Journal Article |
| Language | English |
| Published |
Amsterdam
Elsevier B.V
01.12.2021
Elsevier Science Ltd |
| Subjects | |
| Online Access | Get full text |
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| Abstract | We present results from a highly powered online experiment with 937 participants on Amazon Mechanical Turk (MTurk) that examined whether MTurkers exhibit myopic loss aversion (MLA). The experiment consisted of measuring MLA-compliant behavior in two between-subjects treatments that differed only regarding the risk profile of the risky asset employed. We found no statistically significant evidence of MLA-compliant behavior for any of the two risk profiles among MTurkers in the full samples. However, we found evidence of MLA for one of the two risk profiles in some sub-samples where we screened-out participants based on processing times in the experiment.
•No MLA-compliant behavior among an unscreened sample on MTurk.•Only some (more attentive) participants on MTurk exhibit MLA-compliant behavior.•The susceptibility to MLA of these participants depends on the lottery risk profile. |
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| AbstractList | We present results from a highly powered online experiment with 937 participants on Amazon Mechanical Turk (MTurk) that examined whether MTurkers exhibit myopic loss aversion (MLA). The experiment consisted of measuring MLA-compliant behavior in two between-subjects treatments that differed only regarding the risk profile of the risky asset employed. We found no statistically significant evidence of MLA-compliant behavior for any of the two risk profiles among MTurkers in the full samples. However, we found evidence of MLA for one of the two risk profiles in some sub-samples where we screened-out participants based on processing times in the experiment. We present results from a highly powered online experiment with 937 participants on Amazon Mechanical Turk (MTurk) that examined whether MTurkers exhibit myopic loss aversion (MLA). The experiment consisted of measuring MLA-compliant behavior in two between-subjects treatments that differed only regarding the risk profile of the risky asset employed. We found no statistically significant evidence of MLA-compliant behavior for any of the two risk profiles among MTurkers in the full samples. However, we found evidence of MLA for one of the two risk profiles in some sub-samples where we screened-out participants based on processing times in the experiment. •No MLA-compliant behavior among an unscreened sample on MTurk.•Only some (more attentive) participants on MTurk exhibit MLA-compliant behavior.•The susceptibility to MLA of these participants depends on the lottery risk profile. |
| ArticleNumber | 110137 |
| Author | Schwaiger, Rene Hueber, Laura |
| Author_xml | – sequence: 1 givenname: Rene orcidid: 0000-0003-2607-5986 surname: Schwaiger fullname: Schwaiger, Rene email: rene.schwaiger@uibk.ac.at – sequence: 2 givenname: Laura surname: Hueber fullname: Hueber, Laura |
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