loss aversion
Loss aversion is a psychological bias where people prefer to avoid losses rather than acquire equivalent gains, often weighing potential losses more heavily than potential gains of the same value.
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Related Concepts (15)
- behavioral economics
- budgeting and financial planning
- cognitive biases
- decision-making biases
- emotional decision-making
- endowment effect
- framing effect
- investor behavior
- loss aversion in sports psychology
- loss-averse individuals
- marketing strategies and consumer behavior
- prospect theory
- risk aversion
- risk perception
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