Gambling with the house money in capital expenditure decisions: An experimental analysis

被引：52

作者：

Keasey, K

Moon, P

机构：

[1] Sch. of Bus. and Economic Studies, University of Leeds

来源：

ECONOMICS LETTERS | 1996年 / 50卷 / 01期

关键词：

gains and losses; framing; capital expenditure;

D O I：

10.1016/0165-1765(95)00726-1

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper extends the work of Thaler and Johnson (Management Science, 1990, 36, no. 6, 643-660) on prior gains and losses in a business context. In support of their results, the current experimental analysis on capital expenditure decisions finds that prior gains shift behaviour towards risk seeking. The results do not, however, offer evidence of prior losses shifting behaviour towards risk aversion.

引用

页码：105 / 110

页数：6

共 5 条

[1] THE PSYCHOLOGY OF SUNK COST
ARKES, HR
BLUMER, C
[J]. ORGANIZATIONAL BEHAVIOR AND HUMAN DECISION PROCESSES, 1985, 35 (01) : 124 - 140
[2] BATTALIO RC, 1990, J RISK UNCERTAINTY, V3, P25
[3] REASONS FOR FRAMING EFFECTS
FRISCH, D
[J]. ORGANIZATIONAL BEHAVIOR AND HUMAN DECISION PROCESSES, 1993, 54 (03) : 399 - 429
[4] KEASEY K, 1995, USE MIS USE SUNK COS
[5] GAMBLING WITH THE HOUSE MONEY AND TRYING TO BREAK EVEN - THE EFFECTS OF PRIOR OUTCOMES ON RISKY CHOICE
THALER, RH
JOHNSON, EJ
[J]. MANAGEMENT SCIENCE, 1990, 36 (06) : 643 - 660

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