The book of inspiration

February 18, 2010

Loss Aversion

Filed under: life — Tags: , , — zproxy @ 9:19 am

 

You only lose what you cling to. -Buddha

The Concorde Effect: Is it all worth it?

The Concorde Effect: Is it all worth it?

[…] losing $10 is more painful than gaining $10 is pleasurable

[…] Instead of saying that you will get the achievement or trophy if you buy the game

[…] Once we have committed a lot of time or energy to a cause, it is nearly impossible to convince us that it is unworthy

[…] How bad do your losses have to be before you change course?

[…] If you have $50, would you rather lose $30 or keep $20

[…] It is normal to dislike a choice we made… what isn’t is sticking with them even though we know for sure they are not making us happy.

Via wiki and Jamie Madigan and Jason Shafrin.

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3 Comments

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