Figure 2.

LA Histogram and Model 1 posterior distributions for each parameter by loss aversion group. Model 1 was estimated using a Bayesian hierarchical framework, with Markov chain Monte-Carlo (MCMC) sampling methods employed to estimate a joint posterior distribution (known as traces) for each of the model parameters, starting point, barrier, and drift rate. (A) Histogram of loss aversion scores with gray lines separating each tercile group. Our participant sample was more loss averse (M = 2.17, SD = 1.14), as measured by the DOSE using the lambda (λ) parameter than samples in the literature; although, our study had the benefit of a larger sample size and fewer exclusions than is typical. Generally, scores on the DOSE where lambda > 1 are considered loss-averse and scores below 1 are considered loss-seeking. (B) Posterior distribution of starting point traces estimated by Model 1. Starting point traces are separated by the loss aversion groups. (C) Posterior distribution of barrier traces estimated by Model 1. Although barrier traces seem to somewhat separate based on loss aversion groups, the difference between groups is not significant. (D) Posterior distribution of drift rate traces estimated by Model 1. Drift rate traces are separated by the loss aversion groups, p < 0.05.