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Does commitment or feedback influence myopic loss aversion? An experimental analysis
[journal article]
Abstract Empirical research has demonstrated that a lower feedback frequency combined with a longer period of commitment decreases myopia and thereby increases the willingness to invest in a risky asset. In an experimental study, we disentangle the intertwined manipulation of feedback frequency and commitmen... view more
Empirical research has demonstrated that a lower feedback frequency combined with a longer period of commitment decreases myopia and thereby increases the willingness to invest in a risky asset. In an experimental study, we disentangle the intertwined manipulation of feedback frequency and commitment to analyze how each individual variable contributes to the change in myopia and how they interact. We find that the period of commitment exerts a substantial impact and the feedback frequency a far less pronounced impact. There is a strong interaction between both variables. The results have significant implications for real world intertemporal decision making.... view less
Classification
Methods and Techniques of Data Collection and Data Analysis, Statistical Methods, Computer Methods
Financial Planning, Accountancy
Method
empirical
Free Keywords
Intertemporal decision making; Myopic loss aversion; Feedback frequency; Length of commitment; Evaluation period
Document language
English
Publication Year
2008
Page/Pages
p. 810-819
Journal
Journal of Economic Behavior & Organization, 67 (2008) 3-4
DOI
https://doi.org/10.1016/j.jebo.2006.05.019
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)