scholarly journals Financial Loss Aversion Illusion*

2019 ◽  
Vol 24 (2) ◽  
pp. 381-413 ◽  
Author(s):  
Christoph Merkle
Keyword(s):  
Loss Aversion ◽  
Expected Returns ◽  
Subjective Ratings ◽  
Financial Loss ◽  
Portfolio Returns ◽  
Forecasting Error ◽  
Time Period ◽  
The Uk ◽  
Financial Losses ◽  
Better Than

Abstract We test the proposition that investors’ ability to cope with financial losses is much better than they expect. In a panel survey of investors from a large bank in the UK, we ask for their subjective ratings of anticipated returns and experienced returns. The time period covered by the panel (2008–10) is one where investors experienced frequent losses and gains in their portfolios. This period offers a unique setting to evaluate investors’ hedonic experiences. We examine how the subjective ratings behave relative to expected portfolio returns and experienced portfolio returns. Loss aversion is strong for anticipated outcomes; investors are twice as sensitive to negative expected returns as to positive expected returns. However, when evaluating experienced returns, the effect diminishes by more than half and is well below commonly found loss aversion coefficients. This suggests that a large part of investors’ financial loss aversion results from an affective forecasting error.

scholarly journals Metaphors of migration over time

2021 ◽  
pp. 095792652199215
Author(s):  
Charlotte Taylor
Keyword(s):  
Emigration And Immigration ◽  
Emigrants And Immigrants ◽  
Economic Resource ◽  
Historical Discourse ◽  
Continuity And Change ◽  
The Past ◽  
Perception Of Control ◽  
Time Period ◽  
Metaphor Use ◽  
The Uk

This paper aims to cast light on contemporary migration rhetoric by integrating historical discourse analysis. I focus on continuity and change in conventionalised metaphorical framings of emigration and immigration in the UK-based Times newspaper from 1800 to 2018. The findings show that some metaphors persist throughout the 200-year time period (liquid, object), some are more recent in conventionalised form (animals, invader, weight) while others dropped out of conventionalised use before returning (commodity, guest). Furthermore, we see that the spread of metaphor use goes beyond correlation with migrant naming choices with both emigrants and immigrants occupying similar metaphorical frames historically. However, the analysis also shows that continuity in metaphor use cannot be assumed to correspond to stasis in framing and evaluation as the liquid metaphor is shown to have been more favourable in the past. A dominant frame throughout the period is migrants as an economic resource and the evaluation is determined by the speaker’s perception of control of this resource.

scholarly journals “At Least until the Second Wave Comes…”: A Twitter Analysis of the NHS and COVID-19 between March and June 2020

2021 ◽  
Vol 18 (8) ◽  
pp. 3943
Author(s):  
Kathy McKay ◽  
Sarah Wayland ◽  
David Ferguson ◽  
Jane Petty ◽  
Eilis Kennedy
Keyword(s):  
Health Care ◽  
Social Media ◽  
Content Analysis ◽  
Well Being ◽  
Profound Impact ◽  
Time Period ◽  
Twitter Analysis ◽  
The Uk ◽  
Media Narratives ◽  
Second Wave

In the UK, tweets around COVID-19 and health care have primarily focused on the NHS. Recent research has identified that the psychological well-being of NHS staff has been adversely impacted as a result of the COVID-19 pandemic. The aim of this study was to investigate narratives relating to the NHS and COVID-19 during the first lockdown (26 March–4 July 2020). A total of 123,880 tweets were collated and downloaded bound to the time period of the first lockdown in order to analyse the real-time discourse around COVID-19 and the NHS. Content analysis was undertaken and tweets were coded to positive and negative sentiments. Five main themes were identified: (1) the dichotomies of ‘clap for carers’; (2) problems with PPE and testing; (3) peaks of anger; (4) issues around hero worship; and (5) hints of a normality. Further research exploring and documenting social media narratives around COVID-19 and the NHS, in this and subsequent lockdowns, should help in tailoring suitable support for staff in the future and acknowledging the profound impact that the pandemic has had.

Loss Aversion Is an Affective Forecasting Error

2006 ◽  
Vol 17 (8) ◽  
pp. 649-653 ◽  
Author(s):  
Deborah A. Kermer ◽  
Erin Driver-Linn ◽  
Timothy D. Wilson ◽  
Daniel T. Gilbert
Keyword(s):  
Loss Aversion ◽  
Affective Forecasting ◽  
Forecasting Error

scholarly journals Validation of SCIAMACHY limb NO<sub>2</sub> profiles using solar occultation measurements

2011 ◽  
Vol 4 (4) ◽  
pp. 4753-4800
Author(s):  
R. Bauer ◽  
A. Rozanov ◽  
C. A. McLinden ◽  
L. L. Gordley ◽  
W. Lotz ◽  
...  
Keyword(s):  
The Past ◽  
Middle Latitudes ◽  
Solar Occultation ◽  
Time Period ◽  
Vertical Distributions ◽  
Global Coverage ◽  
Scanning Imaging ◽  
Diurnal Effect ◽  
Better Than ◽  
Balloon Measurements

Abstract. The increasing amounts of reactive nitrogen in the stratosphere necessitates accurate global measurements of stratospheric nitrogen dioxide (NO2). Over the past decade, the SCIAMACHY (SCanning Imaging Absorption spectroMeter for Atmospheric CHartographY) instrument on ENVISAT (European Environmental Satellite) has been providing global coverage of stratospheric NO2 every 6 days, which is otherwise difficult to achieve with other systems (e.g. balloon measurements, solar occultation). In this study, the vertical distributions of NO2 retrieved from limb measurements of the scattered solar light from the SCIAMACHY instrument are validated using NO2 products from three different satellite instruments (SAGE II, HALOE and ACE-FTS). The retrieval approach, as well as the sensitivity of the SCIAMACHY NO2 limb data product are discussed, and the photochemical corrections needed to make this validation feasible, as well as the chosen collocation criteria are described. For each instrument, a time period of two years is analyzed with several hundreds of collocation pairs for each year and instrument. The agreement between SCIAMACHY and each instrument is found to be better than 10 % between 22–24 km and 40 km. Additionally, NO2 amounts in three different latitude regions are validated individually, with considerably better agreements in high and middle latitudes compared to tropics. Differences with SAGE II and ACE-FTS below 20 km are consistent with those expected from the diurnal effect.

International Real Estate Review

2017 ◽  
Vol 20 (1) ◽  
pp. 1-21
Author(s):  
Greg MacKinnon ◽  
◽  
Jon Spinney ◽  
Keyword(s):  
Real Estate ◽  
Equity Market ◽  
Portfolio Performance ◽  
Real Estate Investment ◽  
Construction Techniques ◽  
Time Period ◽  
High Volatility ◽  
Weighted Portfolio ◽  
Portfolio Design ◽  
Better Than

We examine the market for U.S. equity real estate investment trusts (REITs) for evidence of the volatility effect, in which low volatility stocks tend to outperform high volatility ones, as has been found in the general equity market by prior research. While there is some evidence of a volatility effect in the first ten years of the sample, this disappears in a more recent time period. Furthermore, we test the efficacy of low risk portfolio construction techniques and find that none perform any better than a market cap weighted portfolio ¡V although they are also no worse ¡V over any of the time periods examined. Thus, there is no evidence that using a risk-based portfolio design that emphasizes low volatility would improve portfolio performance for a REIT allocation.

Product Liability

2020 ◽  
Author(s):  
Fairgrieve Duncan ◽  
Richard Goldberg
Keyword(s):  
Strict Liability ◽  
Product Liability ◽  
Case Law ◽  
The European Union ◽  
Financial Loss ◽  
Liability Law ◽  
The Usa ◽  
The Law ◽  
The Uk ◽  
The Impact

Product Liability is a recognised authority in the field and covers the product liability laws through which manufacturers, retailers, and others may be held liable to compensate persons who are injured, or who incur financial loss, when the products which they manufacture or sell are defective or not fit for their purpose. Product defects may originate in the production process, be one of design, or be grounded in a failure to issue an adequate warning or directions for safe use and practitioners advising business clients or claimants will find this book provides all the necessary information for practitioners to manage a product liability claim. This new edition has been fully updated to take account of 10 years of development in case law and regulation, and the increasing impact of cross-border and transnational sale of goods. The Court of Justice of the European Union handed down major rulings concerning the Product Liability Directive which affect the application of the Directive and national arrangements and Fairgrieve and Goldberg examines this in detail. For any legal practitioner operating in areas which require knowledge of European product liability law, an understanding of the impact of recent developments is essential and this work is an essential resource for practitioners working on product liability, sale of goods, personal injury and negligence. The work provides comprehensive coverage of the law of negligence as it applies to product liability, of the strict liability provisions of the Consumer Protection Act 1987, and of the EU's Product Liability Directive on which the Act is based. Although the majority of cases involve pharmaceuticals and medical devices, in recent English cases the allegedly defective products have been as diverse as a child's buggy, an All Terrain Vehicle, and even a coffee cup. Many cases are brought as group actions, and the book examines the rights of those who are injured by defective products. As well as considering the perspective of the law as it has developed in the UK, this edition contains detailed discussion of case law from other jurisdictions including the USA, Australia, New Zealand, Canada, France and Germany. The coverage in the work is complemented by a full analysis of issues which arise in transnational litigation involving problems of jurisdiction and the choice of laws.

scholarly journals Divorced and Unemployed: the Declining Association between Two Critical Lifecourse States in the UK, 1984-2017

2019 ◽  
Author(s):  
Lewis Robert Anderson ◽  
Christiaan Willem Simon Monden ◽  
Erzsebet Bukodi
Keyword(s):  
Gender Gap ◽  
Educational Inequality ◽  
Marital Dissolution ◽  
The Other ◽  
Cross Sectional ◽  
Time Period ◽  
Domains Of Life ◽  
Nationally Representative ◽  
And Gender ◽  
The Uk

Individuals exposed to both job loss and marital dissolution are likely to be highly disadvantaged, having experienced stresses and losses in the two primary domains of life. Moreover, recent literature finds that exposure to one event tends to increase risk of the other. However, next to nothing is known about the size or composition – or changes therein – of the divorced/separated and unemployed (DSU) subpopulation. Using large, nationally representative, repeated cross-sectional datasets extending back to 1984, we aim to fill this gap for the UK. We give a descriptive account of the prevalence and social distribution of DSU, and of the cross-sectional association between its two component states: among which groups, by education and gender, does being either divorced/separated or unemployed most strongly imply a heightened risk of also being the other, and how has this changed over time? We find stable and strong educational inequality in DSU, while the gender gap has narrowed and recently closed. The association between the two states is stronger among men; has weakened strikingly over the time period we consider, for both men and, especially, women; and is educationally stratified among men but not women. Contrary to expectations, higher-educated men in one of the two states are most likely to also be in the other. Possible explanations and further questions are discussed. In particular, we highlight the possibility that over this time period the divorced/separated have become more like the general population, rather than a negatively selected subgroup among whom unemployment is a particular risk.

scholarly journals IMPACT OF THEILERIOSIS ON MILK IN NATURALLY INFECTED COWS AND BUFFALOES AT HYDERABAD

2017 ◽  
Vol 5 (8) ◽  
pp. 36-42
Author(s):  
M.I. Memon ◽  
Memon ◽  
Kachiwal ◽  
Soomro ◽  
Meh- ja- been Memon ◽  
...  
Keyword(s):  
Chemical Analysis ◽  
Urban Areas ◽  
Infected Cattle ◽  
Financial Loss ◽  
Total Solids ◽  
Financial Losses

Study was conducted to investigate the consequences of Theileriosis in naturally infected cattle and buffaloes of urban and peri urban areas of Hyderabad. Chemical analysis of milk of infected cows and buffaloes revealed that protein, ash and lactose were significantly declined (P<0.05) whereas, fat and total solids were significantly increased (P<0.05) in Theileria infected cows and buffaloes, but pH and acidity was unaffected. Financial losses occur in terms of reduced quality and severely decreased quantity of milk and meat. The total financial loss including the mortality and decreased quantity of milk and meat was recorded of Rs. 0.17 million / animal in the current study. Theileriosis is one of the main causes of financial losses for livestock holders.

scholarly journals Does Public Service Television Really Give Consumers Less Good Value for Money than the Rest of the Market?

2018 ◽  
Author(s):  
Patrick Barwise
Keyword(s):  
Public Service ◽  
Policy Implication ◽  
Value For Money ◽  
Trade Off ◽  
The Public ◽  
Consumer Value ◽  
Consumer Benefits ◽  
The Uk ◽  
Tv Commercial ◽  
Better Than

This chapter explores the assumption that public service television (PST), i.e. BBC TV, commercial public service broadcasters (PSBs), and non-PSBs, offers less consumer value for money than the rest of the market in the UK; that the only continuing rationale for PST rests on citizen concerns. It shows that PST does give citizens public service benefits over and above those provided by the non-PSBs and online-only TV players, and these ‘citizenship’ benefits are highly valued by the public. PST also offers consumers better value for money because the non-PSBs' significantly higher cost per viewer-hour seems unlikely to be compensated for by commensurately higher audience appreciation. The main policy implication is simple: there is no necessary trade-off between citizen and consumer benefits: pound for pound, PST appears to deliver both sets of benefits better than the rest of the market.

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