3 ms·
The amount of money, relatively, is negligible. On the other hand, in the human psyche it can create significant bias. Specially, for example, humans have an a
by chiefalchemist 4y ago
The amount of money, relatively, is negligible. On the other hand, in the human psyche it can create significant bias.
Specially, for example, humans have an aversion to loss. It's true for small amounts. Certainly, for larger amounts it's just as bad. That is, few people regardless of resources would reach into their pocket and toss $15K into a fire pit. We're simply not wired for that.
And that wiring is going to influence the decision made. The amount is a minor factor.