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Tomás Lejarraga
Max Planck Society
22Publications
8H-index
259Citations
Publications 22
Newest
#1Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
#2Michael Schulte-Mecklenbeck (University of Bern)H-Index: 12
Last.Ralph Hertwig (MPG: Max Planck Society)H-Index: 46
view all 4 authors...
Abstract Loss aversion is often assumed to be a basic and far-reaching psychological regularity in behavior. Yet empirical evidence is accumulating to challenge the assumption of widespread loss aversion in choice. We suggest that a key reason for the apparently elusive nature of loss aversion may be that its manifestation in choice is state-dependent and distinct from a more state-independent principle of heightened attention to losses relative to gains. Using data from process-tracing studies,...
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#1Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
#2Renato Frey (University of Basel)H-Index: 9
Last.Ralph Hertwig (MPG: Max Planck Society)H-Index: 46
view all 4 authors...
Does birth order shape people’s propensity to take risks? Evidence is mixed. We used a three-pronged approach to investigate birth-order effects on risk taking. First, we examined the propensity to take risks as measured by a self-report questionnaire administered in the German Socio-Economic Panel, one of the largest and most comprehensive household surveys. Second, we drew on data from the Basel–Berlin Risk Study, one of the most exhaustive attempts to measure risk preference. This study admin...
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#1Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
#2Jan K. Woike (MPG: Max Planck Society)H-Index: 6
Last.Ralph Hertwig (MPG: Max Planck Society)H-Index: 46
view all 3 authors...
#1Eyal Ert (HUJI: Hebrew University of Jerusalem)H-Index: 17
#2Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
1 CitationsSource
#1Jolie M. Martin (CMU: Carnegie Mellon University)H-Index: 6
#2Tomás Lejarraga (CMU: Carnegie Mellon University)H-Index: 8
Last.Cleotilde Gonzalez (CMU: Carnegie Mellon University)H-Index: 27
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This laboratory study explores how decision makers weigh candidate reference prices for a stock differently depending on two contextual variables: (1) the motivation to adopt a high reference price as a potential seller versus a low reference price as a potential buyer, and (2) the availability of information about past prices versus reliance on memory alone. In our experiment, participants observed 60 sequences of stock prices, and after each, reported a neutral trading price at which they woul...
1 CitationsSource
#1Ralph Hertwig (MPG: Max Planck Society)H-Index: 46
#2Robin M. HogarthH-Index: 45
Last.Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
view all 3 authors...
Experience and description are powerful ways of learning and adaptation. Recently, evidence has shown that these can imply systematically distinct cognitions and behaviors. However, there has been ...
10 CitationsSource
#1José LejarragaH-Index: 4
#2Tomás LejarragaH-Index: 8
#1Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
#2Michael Schulte-Mecklenbeck (University of Bern)H-Index: 12
Last.Daniel Smedema (IU: Indiana University)H-Index: 1
view all 3 authors...
The recent introduction of inexpensive eyetrackers has opened up a wealth of opportunities for researchers to study attention in interactive tasks. No software package has previously been available to help researchers exploit those opportunities. We created “the pyeTribe,” a software package that offers, among others, the following features: first, a communication platform between many eyetrackers to allow for simultaneous recording of multiple participants; second, the simultaneous calibration ...
1 CitationsSource
#1Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
#2Johannes Müller-Trede (UCSD: University of California, San Diego)H-Index: 3
How do teams make joint decisions under risk when some team members learn about a prospect from description and others learn from experience? In a series of experiments, we find that two-person teams composed of one participant who learns from description and a second participant who learns from experience arrive at shared decisions via mutual concessions. In doing so, they attenuate individual biases, such as the overweighting and underweighting of the probability of rare events. The social int...
6 CitationsSource
#1Tomás Lejarraga (MPG: Max Planck Society)H-Index: 8
#2Ralph Hertwig (MPG: Max Planck Society)H-Index: 46
Until recently, loss aversion has been inferred exclusively from choice asymmetries in the loss and gain domains. This study examines the impact of the prospect of losses on exploratory search in a situation in which exploration is costly. Taking advantage of the largest available data set of decisions from experience, analyses showed that most people explore payoff distributions more under the threat of a loss than under the promise of a gain. This behavioral regularity thus occurs in both cost...
8 CitationsSource
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