← recall
loss aversion termbias
losses hurt about twice as much as equivalent gains feel good
People will work harder to avoid losing
00 than to gain 00. Explains the endowment effect (you demand more to give up something than you'd pay to acquire it), status-quo bias, and why removing a feature feels worse than never having it. In negotiation: framing concessions as preventing loss is more effective than framing them as gain.
topics: decision-theory, negotiation
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