Prospect Theory proposed that the (dis)utility of losses is always more than gains due to a phenomena called ‘loss-aversion’, a result obtained in multiple later studies over the years. However, some researchers found reversed or no loss-aversion for affective judgments of small monetary amounts but, those findings have been argued to stem from the way … Continue reading Is loss aversion magnitude dependent?
MEDIA MENTION : Times of India newspaper (pdf) (html) With continuous growth in information aggregation and dissemination, studies on privacy preferences are important to understand what makes people reveal information about them. Previous studies have demonstrated that short-term gains and possible monetary rewards make people risk disclosing information. Given the malleability of privacy preferences and the ubiquitous … Continue reading Money makes you reveal more
The relationship between money and happiness has always been one of hide and seek. Does having more money lead to greater life-satisfaction? Literature so far directed to two opposing directions. Some studies show that greater income leads to greater life-satisfaction, while others show otherwise. Economic theories on happiness suggest that with greater income happiness increases … Continue reading Money cues influence life-satisfaction predictions for new educational institutes