Please wait a minute...
Advances in Psychological Science    2014, Vol. 22 Issue (8) : 1319-1327     DOI: 10.3724/SP.J.1042.2014.01319
Regular Articles |
The Origin of Loss Aversion
LI Bin;XU Fuming;WANG Wei;ZHANG Hui;LUO Hanbing
(School of Psychology, Central China Normal University; Key Laboratory of Human Development and Mental Health of Hubei Province; Key Laboratory of Adolescent Cyberpsychology and Behavior (CCNU), Ministry of Education, Wuhan 430079, China)
Download: PDF(213 KB)  
Export: BibTeX | EndNote | Reference Manager | ProCite | RefWorks    
Abstract  

Loss aversion refers to a phenomenon that the disutility of a loss is larger than the utility of an equivalent gain. Its origin can be explained from the aspects of neuroeconomics and evolutionary psychology. The brain mechanisms of loss aversion are divided into two systems—the subjective value evaluation system mainly including striatum and prefrontal cortex, which is associated with the assessment of subjective value; the emotional arousal system mainly including amygdala and insula, which is related to negative emotions like disgust. Under the framework of evolutionary psychology, the present paper reviews the researches of animal behavioral decision-making to explore the evolutionary history of loss aversion, and then summarizes its evolutionary explanations based on related evolutionary theories. Finally, the deficiencies existing in current research and the directions for future research are discussed.

Keywords loss aversion      subjective value evaluation system      emotional arousal system      evolutionary psychology     
Corresponding Authors: XU Fuming   
Issue Date: 15 August 2014
Service
E-mail this article
E-mail Alert
RSS
Articles by authors
LI Bin
XU Fuming
WANG Wei
ZHANG Hui
LUO Hanbing
Cite this article:   
LI Bin,XU Fuming,WANG Wei, et al. The Origin of Loss Aversion[J]. Advances in Psychological Science, 2014, 22(8): 1319-1327.
URL:  
http://journal.psych.ac.cn/xlkxjz/EN/10.3724/SP.J.1042.2014.01319     OR     http://journal.psych.ac.cn/xlkxjz/EN/Y2014/V22/I8/1319
[1] YANG Xiaoli; LIU Xiaoxiao; BAI Baoyu. The psychological effects of body height and the mechanisms[J]. Advances in Psychological Science, 2017, 25(5): 857-865.
[2] SU Jinlong; SU Yanjie. The psychological effects of mating motive[J]. Advances in Psychological Science, 2017, 25(4): 609-626.
[3] XU Fuming; SHI Yanwei; LI Ou; ZHANG Hui; LI Yan. Mechanisms and measures of the public’ sense of income unfairness: Dual viewpoint of reference dependence and loss aversion[J]. Advances in Psychological Science, 2016, 24(5): 665-675.
[4] WU Baopei; WU Jing; HE Xiaona; LI Lu. Opposite-Sex Friendship from Multiple Perspectives[J]. Advances in Psychological Science, 2014, 22(9): 1485-1495.
[5] WU Baopei; WU Jing; CHANG Lei; LI Lu. Mate Choice and Human Voice[J]. Advances in Psychological Science, 2014, 22(12): 1953-1963.
[6] WU Baopei;ZHU Xiaoqin;CHANG Lei. Cheater-Detection from Lens of Evolutionary Psychology: Accuracy and Modularity[J]. Advances in Psychological Science, 2013, 21(12): 2224-2234.
[7] WU Baopei;ZHU Xiaoqin;CHANG Lei. Individual Differences in Grandparental Investment: An Evolutionary Psychological Perspective[J]. Advances in Psychological Science, 2013, 21(11): 2082-2090.
[8] GAO Fei;ZHANG Weiwei;PAN Xiaofu. The Cognitive Mechanism and Influential Factors of Perception of Inflation[J]. Advances in Psychological Science, 2013, 21(1): 125-134.
[9] WU Bao-Pei;CHANG Lei. Envy: A Social Emotion Characterized by Hostility Envy: A Social Emotion Characterized by Hostility[J]. Advances in Psychological Science, 2012, 20(9): 1467-1478.
[10] WU Bao-Pei;GAO Shu-Ling. Moral Hypocrisy: An Opportunistic Adaptive Strategy[J]. , 2012, 20(6): 926-934.
[11] WANG Rui-Le;LIU Han-Hui;ZHANG Xiao-Yi. The Asymmetric Kin Altruism: From the Perspective of Evolutionary Psychology[J]. , 2012, 20(6): 910-917.
[12] LIU Xiao-Cen;SANG Biao;DOU Dong-Hui. Pros and Cons of Self-Enhancement: Theory, Empirical Research, and Application[J]. , 2011, 19(6): 883-895.
[13] ZHANG Hong-Fei;XU Fu-Ming;LIU Teng-Fei;ZHANG Jun-Wei;JIANG Duo. Winner’s Curse: Psychological Mechanisms, Influencing Factors and Coping Strategies[J]. , 2011, 19(5): 664-672.
[14] WU Bao-Pei;CHANG Lei. Psychological Defense against Disease: How Humans Cope with Pathogen Threat[J]. , 2011, 19(3): 410-419.
[15] MA Xiang-Yang;XU Fu-Ming;WU Xiu-Liang;HUANG Bao-Zhen;HUANG Ya-Ling. The Psychological Mechanism and Influential Factors of Omission Bias in Behavioral Decision Making[J]. , 2011, 19(12): 1834-1841.
Viewed
Full text


Abstract

Cited

  Shared   
  Discussed   
Copyright © Advances in Psychological Science
Support by Beijing Magtech