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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Bibliographic Details
Published inEconomics letters Vol. 209; p. 110137
Main Authors Schwaiger, Rene, Hueber, Laura
Format Journal Article
LanguageEnglish
Published Amsterdam Elsevier B.V 01.12.2021
Elsevier Science Ltd
Subjects
assets
Between-subjects design
Mturk
Myopic loss aversion
Online experiment
Risk
Risk assessment
Risk aversion
Risk factors
risk profile
Myopic loss aversion
Mturk
G41
G11
G10
Risk
Online experiment
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Summary: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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ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2021.110137