_psychology-and-your-breakup.jpg "Psychology and Your Breakup from video status quo roll over down Video Screenshot Preview")
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⏲ Duration: 6 min 35 sec
✓ Published: 15-Feb-2021
✓ Published: 15-Feb-2021
Description:
We are hard-wired to react more emotionally to the threat of a loss than we do to the potential for gain, especially when it’s merely the potential for gain – economists call this ‘loss aversion.’nnAnd because of this tendency, we place more value on what we already have (an ‘endowment effect’) and prefer to remain with that (a ‘status quo bias’) rather than roll the dice and take our chances on something better. nnSo, what happens when we feel like we might be losing something?n
We are hard-wired to react more emotionally to the threat of a loss than we do to the potential for gain, especially when it’s merely the potential for gain – economists call this ‘loss aversion.’nnAnd because of this tendency, we place more value on what we already have (an ‘endowment effect’) and prefer to remain with that (a ‘status quo bias’) rather than roll the dice and take our chances on something better. nnSo, what happens when we feel like we might be losing something?n
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