|Appears in Collections:||Management, Work and Organisation Journal Articles|
|Peer Review Status:||Refereed|
|Title:||Individual Differences in Loss Aversion: Conscientiousness Predicts How Life Satisfaction Responds to Losses Versus Gains in Income|
|Authors:||Boyce, Christopher J|
Wood, Alex M
|Citation:||Boyce CJ, Wood AM & Ferguson E (2016) Individual Differences in Loss Aversion: Conscientiousness Predicts How Life Satisfaction Responds to Losses Versus Gains in Income, Personality and Social Psychology Bulletin, 42 (4), pp. 471-484.|
|Abstract:||Loss aversion is considered a general pervasive bias occurring regardless of the context or the person making the decision. We hypothesized that conscientiousness would predict an aversion to losses in the financial domain. We index loss aversion by the relative impact of income losses and gains on life satisfaction. In a representative German sample (N = 105,558; replicated in a British sample, N = 33,848), with conscientiousness measured at baseline, those high on conscientiousness have the strongest reactions to income losses, suggesting a pronounced loss aversion effect, whereas for those moderately unconscientious, there is no loss aversion effect. Our research (a) provides the first evidence of personality moderation of any loss aversion phenomena, (b) supports contextual perspectives that both personality and situational factors need to be examined in combination, (c) shows that the small but robust relationship between income and life satisfaction is driven primarily by a subset of people experiencing highly impactful losses.|
|Rights:||This item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. The final, definitive version of this article has been published in Personality and Social Psychology Bulletin, 42 (4), pp. 471-484 by SAGE Publications. Copyright 2016 Sage Publications.|
|Boyce Individual differences in loss aversion_PSPB_Accepted.pdf||586.55 kB||Adobe PDF||Under Embargo until 9/3/2017 Request a copy|
|Boyce Individual differences in loss aversion_PSPB_Accepted.docx||158.79 kB||Unknown||Under Embargo until 9/3/2017 Request a copy|
Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependant on the depositor still being contactable at their original email address.
This item is protected by original copyright
Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.
If you believe that any material held in STORRE infringes copyright, please contact firstname.lastname@example.org providing details and we will remove the Work from public display in STORRE and investigate your claim.