Who Takes Losses Harder? Gender Differences in Loss Aversion

DOI: 10.5176/2251-1865_CBP18.40

Authors: Diego Flores, Frank Robertson, Mike Seeley, Marcia Ventura, and Harold L. .Miller, Jr.

Abstract: A pivotal concept in behavioral economics is loss aversion, that is, the differentially greater effects of losses when compared to gains. We examined whether males and females experienced different levels of loss aversion when encountering monetary gains and losses. Using a novel video game based on a 6-ply concurrent VI VI schedule of reinforcement and punishment, we tested 26 college-age students (15 females). We found that, on average, participants valuated losses 2.5 times more punishing than corresponding gains were reinforcing. We also found that women valuated losses 1.9 times more punishing than gains were reinforcing than men did.

Keywords:Loss aversion, loss/gain asymmetry ratio, concurrent VI VI schedules of reinforcement and punishment, video game, humans, matching law, generalized matching, gender difference