Nitpick here.... There seems to me be to be significant difference between "loss" in terms of something already tangibly owned and "loss" in terms of missing ou

Nitpick here.... There seems to me be to be significant difference between "loss" in terms of something already tangibly owned and "loss" in terms of missing out on an opportunity. Of course marketing schemes for "act now or lose out" won't work. I don't currently experience the opportunity and therefore losing out exerts no power over me. However, losing a mug when I already own the mug would demand a higher price from me. I would agree with Dr. Thaler that the inertia thing is a minor point about terminology. Call it loss aversion or call it inertia. Marketing schemes that include the word "loss" in their pitch are not using the same strategy that behavioral economists are talking about here.