| Article ID: | iaor20105739 |
| Volume: | 32 |
| Issue: | 3 |
| Start Page Number: | 81 |
| End Page Number: | 87 |
| Publication Date: | Sep 2010 |
| Journal: | Teaching Statistics |
| Authors: | Baker Ardith, Bittner Teresa, Makrigeorgis Christos, Johnson Gloria, Haefner Joseph |
| Keywords: | recreation & tourism |
Recent evidence indicates that decision makers are more sensitive to potential losses than gains. Loss aversion psychology has led behavioural economists to look beyond expected utility by developing