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I wonder if results would be different if cooperation would result in a loss (as opposed to merely smaller reward). Psychologically, it's much easier to forgo
by bd 17y ago
I wonder if results would be different if cooperation would result in a loss (as opposed to merely smaller reward).
Psychologically, it's much easier to forgo additional reward than to give up what you already have.
People have tendency to strongly prefer avoiding losses to acquiring gains:
http://en.wikipedia.org/wiki/Loss_aversion http://en.wikipedia.org/wiki/Loss_aversion