{"id":"https://openalex.org/W2015791302","doi":"https://doi.org/10.2307/2109791","title":"Loss Aversion and Adaptation in the Labor Market: Empirical Indifference Functions and Labor Supply","display_name":"Loss Aversion and Adaptation in the Labor Market: Empirical Indifference Functions and Labor Supply","publication_year":1996,"publication_date":"1996-08-01","ids":{"openalex":"https://openalex.org/W2015791302","doi":"https://doi.org/10.2307/2109791","mag":"2015791302"},"language":"en","primary_location":{"id":"doi:10.2307/2109791","doi":"https://doi.org/10.2307/2109791","is_oa":false,"landing_page_url":"https://doi.org/10.2307/2109791","pdf_url":null,"source":{"id":"https://openalex.org/S180061323","display_name":"The Review of Economics and Statistics","issn_l":"0034-6535","issn":["0034-6535","1530-9142"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315718","host_organization_name":"The MIT Press","host_organization_lineage":["https://openalex.org/P4310315718","https://openalex.org/P4310316440"],"host_organization_lineage_names":["The MIT Press","Massachusetts Institute of Technology"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Review of Economics and Statistics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5041668321","display_name":"Lucia F. Dunn","orcid":"https://orcid.org/0000-0002-6564-606X","observed_orcids":["https://orcid.org/0000-0002-6564-606X"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"L. F. Dunn","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5041668321"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.0365,"has_fulltext":false,"cited_by_count":55,"citation_normalized_percentile":{"value":0.75743163,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"78","issue":"3","first_page":"441","last_page":"441"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.7045999765396118,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.7045999765396118,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10208","display_name":"Labor market dynamics and wage inequality","score":0.17880000174045563,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.02979999966919422,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/loss-aversion","display_name":"loss aversion","score":1.0},{"id":"https://openalex.org/keywords/adaptation","display_name":"adaptation","score":0.6880000233650208},{"id":"https://openalex.org/keywords/reference-points","display_name":"reference points","score":0.5400000214576721},{"id":"https://openalex.org/keywords/labor-supply","display_name":"labor supply","score":0.8849999904632568},{"id":"https://openalex.org/keywords/leisure","display_name":"leisure","score":0.44200000166893005},{"id":"https://openalex.org/keywords/overtime-pay","display_name":"overtime pay","score":0.9490000009536743},{"id":"https://openalex.org/keywords/labor-market-stability","display_name":"labor market stability","score":0.6140000224113464}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.721346378326416},{"id":"https://openalex.org/C139807058","wikidata":"https://www.wikidata.org/wiki/Q352374","display_name":"Adaptation (eye)","level":2,"score":0.6288664937019348},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.5944284796714783},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5006082057952881},{"id":"https://openalex.org/C137535293","wikidata":"https://www.wikidata.org/wiki/Q542869","display_name":"Supply","level":2,"score":0.49394136667251587},{"id":"https://openalex.org/C120665830","wikidata":"https://www.wikidata.org/wiki/Q14620","display_name":"Optics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.2307/2109791","doi":"https://doi.org/10.2307/2109791","is_oa":false,"landing_page_url":"https://doi.org/10.2307/2109791","pdf_url":null,"source":{"id":"https://openalex.org/S180061323","display_name":"The Review of Economics and Statistics","issn_l":"0034-6535","issn":["0034-6535","1530-9142"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315718","host_organization_name":"The MIT Press","host_organization_lineage":["https://openalex.org/P4310315718","https://openalex.org/P4310316440"],"host_organization_lineage_names":["The MIT Press","Massachusetts Institute of Technology"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Review of Economics and Statistics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:tpr:restat:v:78:y:1996:i:3:p:441-50","doi":null,"is_oa":false,"landing_page_url":"http://links.jstor.org/sici?sici=0034-6535%28199608%2978%3A3%3C441%3ALAAAIT%3E2.0.CO%3B2-N&origin=bc","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.7257999777793884}],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":10,"referenced_works":["https://openalex.org/W1528501399","https://openalex.org/W1990969594","https://openalex.org/W2024140722","https://openalex.org/W2030874315","https://openalex.org/W2034721088","https://openalex.org/W2055721458","https://openalex.org/W2063335895","https://openalex.org/W2106752002","https://openalex.org/W2133469585","https://openalex.org/W2324453880"],"related_works":["https://openalex.org/W3124830454","https://openalex.org/W2034721088","https://openalex.org/W2004927975","https://openalex.org/W7097971584","https://openalex.org/W1570387487","https://openalex.org/W4246439469","https://openalex.org/W7098068067","https://openalex.org/W1569210225","https://openalex.org/W7111070308","https://openalex.org/W2884455140"],"abstract_inverted_index":{"This":[0],"paper":[1],"presents":[2],"empirically":[3],"determined":[4,23],"indifference":[5,49,102],"functions":[6,50],"for":[7,35],"income":[8],"and":[9,18,30,32,90],"leisure":[10],"which":[11,75],"exhibit":[12],"the":[13,69,77,81,105],"phenomena":[14],"of":[15,43,51,71],"loss":[16,58,106],"aversion":[17,107],"a":[19],"utility":[20],"reference":[21],"point":[22],"by":[24,28,125],"adaptation,":[25],"as":[26],"expounded":[27],"Kahneman":[29],"Tversky":[31],"others.":[33],"Data":[34],"this":[36],"study":[37],"were":[38],"gathered":[39],"in":[40,65,68,80,93],"original":[41],"surveys":[42],"seven":[44],"diverse":[45],"labor":[46,66,94],"markets.":[47],"The":[48],"all":[52],"show":[53],"common":[54],"features":[55,61,109],"consistent":[56],"with":[57,104],"aversion/adaptation.":[59],"These":[60],"help":[62],"explain":[63],"stability":[64],"markets":[67],"face":[70],"an":[72,87],"overtime":[73],"premium":[74],"prevents":[76],"many":[78],"workers":[79],"United":[82],"States":[83],"from":[84,101],"being":[85],"at":[86],"optimal":[88],"equilibrium":[89],"causes":[91],"discontinuities":[92,113],"supply":[95,98],"curves.":[96],"Labor":[97],"curves":[99,103,119],"derived":[100],"adaptation":[108],"have":[110],"much":[111],"smaller":[112],"than":[114],"those":[115],"based":[116],"on":[117],"simulated":[118],"without":[120],"these":[121],"features.":[122],"Copyright":[123],"1996":[124],"MIT":[126],"Press.":[127]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":1}],"updated_date":"2026-09-27T08:07:27.782135","created_date":"2016-06-24T00:00:00"}
