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Loss aversion refers to a preference for "not getting something you don't have" over "losing something you do have", even when the thing you don't gain is worth
by lonelappde 7y ago
Loss aversion refers to a preference for "not getting something you don't have" over "losing something you do have", even when the thing you don't gain is worth more.
It's nearly wholly irrational.
- perl4ever 7y agoWorth more? Who considers value to be an objective thing? Certainly not any economist I've ever heard of. How could you have trade at all if value was objective?