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Loss aversion
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In cognitive science and behavioral economics, loss aversion is a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain. It should not be confu
Figure 2 shows the effect of losses on the allocation of attention according to the loss attention account.
Figure 2 shows the effect of losses on the allocation of attention according to the loss attention account.
Tufted capuchin monkey display human-like behavioral biases, including loss aversion.
Tufted capuchin monkey display human-like behavioral biases, including loss aversion.
Behavioral economics
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Behavioral economics is the study of the psychological factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theo
Loss aversion
…In cognitive science and behavioral economics, loss aversion is a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain. It should not be…
Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759)
Adam Smith, author of The Wealth of Nations (1776) and The Theory of Moral Sentiments (1759)
Herbert A. Simon, winner of the 1975 Turing award, the 1978 Nobel Prize in economics, and the 1988 John von Neumann Theory Prize
Herbert A. Simon, winner of the 1975 Turing award, the 1978 Nobel Prize in economics, and the 1988 John von Neumann Theory Prize
Daniel Kahneman, winner of the 2002 Nobel Prize in economics
Daniel Kahneman, winner of the 2002 Nobel Prize in economics