caa a22 4500 445854723 CHVBK 20180317145424.0 cr unu---uuuuu 170323e20110801xx s 000 0 eng 10.1007/s10640-010-9455-5 doi (NATIONALLICENCE)springer-10.1007/s10640-010-9455-5 Loss Aversion and Individual Characteristics [Elektronische Daten] [Katrine Hjorth, Mogens Fosgerau] Many studies have shown that loss aversion affects the valuation of non-market goods. Using stated choice data, this paper presents an empirical investigation of how individual-level loss aversion varies with observable personal characteristics and with the choice context. We investigate loss aversion with respect to travel time and money, and find significant loss aversion in both dimensions. The degree of loss aversion in the time dimension is larger than in the money dimension, and depends on age and education. Subjects tend to be more loss averse when the reference is well established. Springer Science+Business Media B.V., 2011 Discrete choice model nationallicence Fixed effects logit estimator nationallicence Loss aversion nationallicence Non-market goods nationallicence Stated preference data nationallicence EG : Equivalent gain nationallicence EL : Equivalent loss nationallicence MRS : Marginal rate of substitution nationallicence WTP : Willingness-to-pay nationallicence WTA : Willingness-to-accept nationallicence Hjorth Katrine Department of Transport, Technical University of Denmark, Bygningstorvet 116 Vest, 2800, Kgs. Lyngby, Denmark aut Fosgerau Mogens Department of Transport, Technical University of Denmark, Bygningstorvet 116 Vest, 2800, Kgs. Lyngby, Denmark aut Environmental and Resource Economics Springer Netherlands 49/4(2011-08-01), 573-596 0924-6460 49:4<573 2011 49 10640 https://doi.org/10.1007/s10640-010-9455-5 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10640-010-9455-5 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Hjorth Katrine Department of Transport, Technical University of Denmark, Bygningstorvet 116 Vest, 2800, Kgs. Lyngby, Denmark aut NATIONALLICENCE 700 1- Fosgerau Mogens Department of Transport, Technical University of Denmark, Bygningstorvet 116 Vest, 2800, Kgs. Lyngby, Denmark aut NATIONALLICENCE 773 0- Environmental and Resource Economics Springer Netherlands 49/4(2011-08-01), 573-596 0924-6460 49:4<573 2011 49 10640 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer