#loss-aversion

By: Fatima Winniclare Jayme When Clare began her first year at university, she told herself she was going to meet new friends. But day after day, surrounded by hundreds of students, she would eat lunch alone. Scrolling through the student portal one day, she saw an announcement for a popular leadership course. The programme offered mentorship, networking opportunities, and a credential…

The Basics of Loss AversionLoss aversion, a psychological phenomenon, makes us dread losing more than we enjoy gaining. It’s why a $100 loss feels worse than a $100 gain feels good. This bias can lead to overly cautious decisions, missed opportunities, and a paralyzing fear of change. How It Limits Us in RelationshipsIn relationships, loss aversion shows up as: Fear of Change: Staying in toxic…

Win Customers with a Losing Proposition

  If marketing has an equivalent to ‘location, location, location’, it’s ‘benefits, benefits, benefits.’ Products and services must offer them in abundance. And woe to the advertiser who leaves them out of the picture. Shoppers must profit, or no deal. Gleaming teeth, jackrabbit energy, sparkling linoleum. The tangible gain is all.  Nobody buys without it. But is gain the ultimate motivator?

Psy…

Prospect Theory – How risk, uncertainty, and probabilities affects our decision-making

My interest in well-being evolved from my interest in decision making – from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy.

Daniel Kahneman

(more…)

Prospect Theory – How risk, uncertainty, and probabilities affects our decision-making

My interest in well-being evolved from my interest in decision making – from raising the question of whether people know what they will want in the future and whether the things that people want for themselves will make them happy. Daniel Kahneman (more…)