Causes, Consequences, and Cures of Myopic Loss Aversion – An Experimental Investigation
通过实验探究近视损失厌恶对风险投资行为的影响，发现投资期限和反馈频率共同作用，延长期限或减少反馈能提高投资，而默认设置可有效干预。
We use an experiment to examine the causes, consequences and possible cures of myopic loss aversion (MLA) for investment behaviour under risk. We find that both investment horizons and feedback frequency contribute almost equally to the effects of MLA. Longer investment horizons and less frequent feedback lead to higher investments. However, when given the choice, subjects prefer on average shorter investment horizons and more frequent feedback. Exploiting the "status quo" bias by setting a long investment horizon or low feedback frequency as a default turns out to be a successful behavioural intervention to increase investment levels. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009.