4 ms·
From the article: We mentally compare having the prospective item to giving up what we already have (our 'endowment'), but because we're loss averse giving up w
by xirium 18y ago
From the article: We mentally compare having the prospective item to giving up what we already have (our 'endowment'), but because we're loss averse giving up what we already have (our reference point) looms large.
Perhaps this reduces the risk of being tricked. However, when a genuine win-win situation is presented, it would be a significant source of transactional friction.
- dhimes 18y agoI think the problem is getting the user/consumer/customer to see the win-win. If you can present it successfully, you can make the sale. But the theory presented says it's a 9X problem to do so.