Tip 4
Loss Aversion:
The Fear Factor
Losses loom larger than gains, and this asymmetry between the power of positive and negative expectations or experiences has an evolutionary history.
Think of losing as a drama queen—it throws a fit and makes us miserable. Winning? It’s a polite nod. Loss aversion means we fear losing $50 way more than we enjoy gaining it.
It’s why we stick with bad choices, like staying in a terrible movie just because we bought the ticket.