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And by unfair we simply mean they can't make as much profit as they expected to make.
Previously, they had more leeway in valuing assets, so long as they expected to hold them for a long period of time.
The studies found that people who thought they were drinking alcohol behaved exactly as aggressively, or as affectionately, or as merrily as they expected to when drunk.
Even people who simply aren't doing as well as they expected to be doing, Kahneman argues, feel a sense of loss.
Under the old rule, banks could avoid reporting losses so long as they expected to get the principal back eventually, even if the borrower did not have to pay interest on the restructured loan.
In a recent piece for this magazine, James Surowiecki pointed to Daniel Kahneman and Amos Tversky's theory of loss aversion as a way of understanding the support for Donald Trump's Presidential campaign: "Even people who simply aren't doing as well as they expected to be doing, Kahneman argues, feel a sense of loss".
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Investors will hold the debt of a well-run company or government as long as they expect to receive interest payments – a very long time.
Matrophobia wars against the idea that mothers are people or that adult children might be responsible for treating them with consideration, as they expect to be treated.
Such are the profits (over $50 billion a year, says the DEA) that the traffickers regularly produce twice as much as they expect to sell, to make up for losses in transit.
· 40% say that they were denied a job because of their history of psychiatric treatment and about 60% say they have been put off applying for a job as they expect to be dealt with unfairly.
High CSR performers disclose more CSR information as they expect to benefit on financial markets (Reverte 2012).
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