Construct · 1 fields · 1 citations

break-even effect: a standalone construct

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Behavioral economics

increased attraction to gambles that offer a chance to recoup a prior loss, even when risk-averse otherwise.

In behavioral economics, break-even effect refers to increased attraction to gambles that offer a chance to recoup a prior loss, even when risk-averse otherwise. This meaning comes from Thaler (1990) in Management Science.[1]

Unit
Recovery means
Measured by

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Nearby constructs

house money effect1 fields · 1 citationsanchor · a standalone construct attraction3 fields · 5 citationsjingle · one word, three constructs chance4 fields · 6 citationsjingle · one word, four constructs

References

Thaler, R. H., & Johnson, E. J. (1990). Gambling with the House Money and Trying to Break Even: The Effects of Prior Outcomes on Risky Choice. Management Science, 36(6), 643-660. https://doi.org/10.1287/mnsc.36.6.643

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