ERIC Number: EJ1207963
Record Type: Journal
Publication Date: 2019-Apr
Pages: 15
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-0278-7393
EISSN: N/A
Are We Attracted by Losses? Boundary Conditions for the Approach and Avoidance Effects of Losses
Yechiam, Eldad; Ashby, Nathaniel J. S.; Hochman, Guy
Journal of Experimental Psychology: Learning, Memory, and Cognition, v45 n4 p591-605 Apr 2019
The majority of the literature on the psychology of gains and losses suggests that losses lead to an avoidance response. Several studies, however, have shown that losses can also lead to an approach response, whereby an option is selected more often when it produces losses. In five studies we examine the boundary conditions for these contradictory approach and avoidance effects. The results show that an approach response emerges only when losses are produced by a highly advantageous choice alternative and when participants have ample unbiased direct or vicarious experience with this alternative. Additionally, the avoidance response to losses is also not ubiquitous and emerges when alternatives producing losses are experienced as disadvantageous. Thus, the findings suggest that both the approach and avoidance effects of losses exist and can be accounted for by increased investment of cognitive resources with losses (i.e., loss attention). Additionally, the findings clarify the loss attention account in indicating that losses increase exploitative behavior based on experienced outcomes, a process which can be locally optimal.
Descriptors: Fear, Responses, Attention, Selection, Experience, Decision Making, Probability, Undergraduate Students, Foreign Countries
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Identifiers - Location: Israel
Grant or Contract Numbers: N/A