Loss aversion vs risk aversion - do you know the difference? This post touches on prospect theory, the disposition effect and impression management.

Loss aversion is a cognitive bias that suggests that for individuals the pain of losing is psychologically twice as powerful as the pleasure of gaining.

It is often used by marketers to influence consumer decisions. 1. Free Shipping: Many retailers offer free shipping as a way to entice customers to make a purchase. Customers are less likely focus on the cost of the item due to the perceived loss of not taking advantage of the free shipping. 2. Discounts: By offering a discount, customers are more likely to purchase the item due to the perceived loss of not taking advantage of the discount.

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Imagine you got a letter from your bank indicating that they made an error to undercharge you, and now you have to pay a bill for $1,000. How do you feel? What could you have done with the money? How long will this feeling of loss linger?

Discover sketches, drawings, illustrations, and pictures that explain key ideas related to Cognitive bias. Explore visual explanations that make understanding the topic of Cognitive bias simple.

Traits like conscientiousness or extroversion might seem to define your character, but these aren't set in stone and new research reveals how anyone can change their personality - if they really want to

Food aversion in pregnancy is very common. You might not feel like eating at all or find the smells of certain foods extremely unpleasant. https://garypryor.net/dealing-with-loss-of-appetite-in-pregnancy-by-gary-pryor/

“The irony of obsessive loss aversion is that our worst fears become realized in our attempts to manage them.” – Daniel Crosby #trading #investing #portfolio

Loss aversion teaches us that if we want to convince someone of something, we shouldn't focus on the advantages. Rather highlight how it will help them avoid the disadvantages.