Responding variation impacts and outcomes of conditional cash transfer program, the theory of behavioral economics to explain that difference in response targeted households to the incentives provided by the conditional cash transfer occurs because households have different characteristics. Households or individuals who are afraid to take risks (or also known as 'loss aversion' individual) will have a decrease in the level of satisfaction (utility) greater than the increase in satisfaction when experiencing loss and gain of the same magnitude, respectively (( Mullainathan and Thaler (2000) in Medgyesi and Temesváry (2013)). Individuals with loss-averse character, according to the theory of behavioral economics, the individuals / households who will successfully undergo changes in behavior as expected by the conditional cash transfer program ,
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