Loss Aversion and Reference Point Bias
Lecture no. 16 from the course: Unexpected Economics
Taught by Professor Timothy Taylor | 29 min | Categories: The Great Courses Plus Online Economics & Finance Courses
How a choice is framed significantly affects which alternative is chosen, even when either will produce identical results. Grasp why this is so through concepts like loss aversion and reference dependence, and see how public "nudge" policies might be used to influence those choices.