Correction: Quantifying loss aversion: Evidence from a UK population survey

We report and correct a coding error in the estimates of loss aversion in Blake et al. (2021, hereafter BCW) that were based on a representative sample of just over four thousand respondents to a survey in the United Kingdom.The original headline result was that the disutility of a loss of 500 was 2.41 times the utility of a gain of 500.The corrected result is a ratio of 1.80.In this correction, we explain briefly the error (full details of the model are in BCW).The estimates of loss aversion were based upon the iso-elastic form of the value function, namely:where x is the gain if positive and loss if negative.The parameter measures risk attitude in the domain of gains; similarly, the parameter measures risk attitude in