Construct · 1 fields · 1 citations

house money effect: a standalone construct

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Behavioral economics

increased willingness to take risks after a prior gain, as people treat recent winnings as less their own.

In behavioral economics, house money effect refers to increased willingness to take risks after a prior gain, as people treat recent winnings as less their own. This meaning comes from Thaler (1990) in Management Science.[1]

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Nearby constructs

break-even effect1 fields · 1 citationsanchor · a standalone construct gain4 fields · 4 citationsjingle · one word, four constructs general risk attitude1 fields · 1 citationsanchor · a standalone construct

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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