Loss Aversion and Labor Supply
研究在工人可自由选择工作时间和强度的环境中，劳动供给行为是否遵循新古典理论，发现结果更符合具有损失厌恶和递减敏感性的参照依赖偏好模型。
In many occupations, workers' labor supply choices are constrained by institutional rules regulating labor time and effort provision. This renders explicit tests of the neoclassical theory of labor supply difficult. Here we present evidence from studies examining labor supply responses in “neoclassical environments” in which workers are free to choose when and how much to work. Despite the favorable environment, the results cast doubt on the neoclassical model. They are, however, consistent with a model of reference-dependent preferences exhibiting loss aversion and diminishing sensitivity.