"A prisoner of negligently, always be a prisoner of loss."
AYMAR AUDRY
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Eager to share ideas I find from books and other useful videos. "Some people dream of success, while others work for it."
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Loss Aversion
Losing something we already have is twice as much pain than gaining the same. This skewed feelings towards loss is known as loss aversion.
Expectations always dampen the feelings of happiness, always setting us up in advance for a dose of disappointment.
We are all here for some special reason. Stop being a prisoner of your past. Become the architect of your future.
ROBIN SHARMA
The cost or payoff
The cost or payoff is not always clear.
For example, people feel more pain from the loss of a dollar than pleasure from a dollar gained. It is called loss aversion.
The prospect theory combines the ideas of loss aversion and over- and under-weighing the...
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