Law, psychology, and morality : the role of loss aversion / Eyal Zamir.

By:

Zamir, Eyal [author.]

Material type: Text

TextPublisher: New York : Oxford University Press, 2014Description: 1 online resourceContent type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9780190215064 (ebook) :

Subject(s):

Additional physical formats: Print version: No titleDDC classification:

340.19 23

LOC classification:

K487.E3 Z39 2014

Online resources:

Oxford scholarship online

Summary: Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to such phenomena as the status quo and omission biases, the endowment effect, and escalation of commitment. The book systematically analyzes the relationships between loss aversion and the law.

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Includes bibliographical references and index.

Prospect theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse: the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to such phenomena as the status quo and omission biases, the endowment effect, and escalation of commitment. The book systematically analyzes the relationships between loss aversion and the law.

Description based on online resource; title from home page (viewed on October 28, 2014).

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NLU Meghalaya Library

Online Public Access Catalogue (OPAC)

Law, psychology, and morality : the role of loss aversion / Eyal Zamir.