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A loss of $0.05 is perceived as having a greater utility loss than the utility increase of a comparable gain. In cognitive science and behavioral economics, loss aversion refers to a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain. [1][2] It should not be confused with risk aversion ...
Framing effect (psychology) The framing effect is a cognitive bias in which people decide between options based on whether the options are presented with positive or negative connotations. [1] Individuals have a tendency to make risk-avoidant choices when options are positively framed, while selecting more loss-avoidant options when presented ...
Investing is always a risky proposition. As money expert Jaspreet Singh noted in a recent YouTube tutorial, "You are never guaranteed to make money when you invest. In fact, you will lose money at...
Endowment effect. In psychology and behavioral economics, the endowment effect, also known as divestiture aversion, is the finding that people are more likely to retain an object they own than acquire that same object when they do not own it. [1][2][3][4] The endowment theory can be defined as "an application of prospect theory positing that ...
Credit - Jacopo Raule—AP. Spanish police arrested five people for impersonating Brad Pitt in order to scam women by convincing them that the famed Hollywood actor was in love with them. The two ...
A hidden message is information that is not immediately noticeable, and that must be discovered or uncovered and interpreted before it can be known. Hidden messages include backwards audio messages, hidden visual messages and symbolic or cryptic codes such as a crossword or cipher. Although there are many legitimate examples of hidden messages ...
5 hidden messages on the dollar bil. We come in contact with it all the time, but the markings on the one-dollar bill remain shrouded in mystery. Until now. 1. The Creature. In the upper-right ...
The invisible hand is a metaphor inspired by the Scottish economist and moral philosopher Adam Smith that describes the incentives which free markets sometimes create for self-interested people to accidentally act in the public interest, even when this is not something they intended. Smith originally mentioned the term in two specific, but ...