Description
Label a supplied outcome relative to a reference value.
Behavioral economic tasks use explicit payoff units, reference values, time periods and supplied utility or discount conventions. A decision weight need not be a probability, one branch term is not a full expectation, and a nominal cost difference does not establish perceived switching difficulty or an actual preference.
Label a supplied outcome relative to a reference value.
When to use this tool
Use Loss Aversion Reference Change Label when you already have outcome, referenceValue and need to label a supplied outcome relative to a reference value.
How to use the tool and how it works
- Enter outcome, referenceValue. Use the units and conventions below.
- Run the tool. Correct any format, range, or cross-field input error before interpreting the output.
- Read signedChange, label. Use the output convention below.
Return outcome-reference and label loss, gain or reference according to strict comparisons.1
| Input field | Meaning and units | Accepted input |
|---|---|---|
| outcome | Outcome | Required. Finite number. |
| referenceValue | Reference Value | Required. Finite number. |
| Output field | Interpretation | Returned shape |
|---|---|---|
| signedChange | Signed Change | Required. Finite number. |
| label | Label | Required. Text; maximum UTF-16 length 8192. |
{
"input": {
"outcome": 80,
"referenceValue": 100
},
"output": {
"signedChange": -20,
"label": "loss"
}
}Limitations and assumptions
- The reference is supplied, not inferred from expectations. No subjective loss, loss-aversion coefficient, welfare or actual preference is measured.
- Inputs must satisfy both the field types and the cross-field conditions above. Invalid input causes an error; a successful false flag or documented placeholder is a different result.
- Numeric calculations use binary floating point unless exact decimal-integer arithmetic is explicitly stated. No hidden measurement tolerance or decimal rounding is added; nonfinite or out-of-contract results are rejected. Numeric signed-zero results are exported as zero.
Alternative or Complementary methods
Review the full task design, incentive and payoff definitions, participant records and statistical analysis. Estimate behavioral models from appropriate data when local supplied-value arithmetic cannot establish preferences or causal effects.
References
Similar or alternative tools
- Anchoring Reference Deviation
Calculate supplied response deviations from an anchor and a comparison reference.
- Framing Nominal Equivalence Residual
Calculate a supplied cross-unit framing-equivalence residual.