The Eckel and Grossman treatment involves shifting all payoffs down by $6. This
shift produces possible losses for gambles with pretransformation payoffs of $4 and $0
in the top two rows, which have been shown in boldface font in the second column.
Wealth effects were controlled by having subjects fill out an initial survey in both
treatments, with no payment in the first treatment and with a $6 payment for the loss
treatment. Loss aversion is typically modeled as a kink in the utility function that pulls
utilities down to the left of the reference point. In this context, with 0 as a reference ...
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