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Distilled to its essence: we often tend to prefer avoiding losses even at the expense of acquiring gains.
According to the United Nations, 225 million women in developing countries would prefer avoiding pregnancy, but are not using modern contraceptives.
But let's also remember the behavioral economics concept of loss aversion — the idea that people strongly prefer avoiding losses to acquiring gains.
This program took advantage of the bias known as loss aversion people's tendency to prefer avoiding losses to acquiring gains to strengthen participants' commitment and neutralize present bias.
The positive effects of helping were more pronounced for people who are risk seeking, enjoy challenging themselves, and are motivated by the possibility of reward, whereas the negative effects of helping were more pronounced for people who are risk averse, prefer avoiding mistakes, and are motivated by preventing harm.
However, in order not to complicate the notation, we prefer avoiding the term right- in all definitions and theorems.
Similar(50)
For these reasons, surgeons have preferred avoiding splenectomy.
Most companies prefer to avoid conflict.
Many prefer to avoid that route, concerned about side effects.
Most people would prefer to avoid an early death.
As a rule, artists prefer to avoid boxes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com