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Aversion means opposition or repugnance. The following are different forms of aversion: Ambiguity aversion; Brand aversion; Dissent aversion in the United States of America; Endowment effect, also known as divestiture aversion; Food aversion; Inequity aversion; Loss aversion; Risk aversion; Taste aversion; Work aversion; Aversion may also refer ...
The English suffixes -phobia, -phobic, -phobe (from Greek φόβος phobos, "fear") occur in technical usage in psychiatry to construct words that describe irrational, abnormal, unwarranted, persistent, or disabling fear as a mental disorder (e.g. agoraphobia), in chemistry to describe chemical aversions (e.g. hydrophobic), in biology to describe organisms that dislike certain conditions (e.g ...
Loss aversion, where the perceived disutility of giving up an object is greater than the utility associated with acquiring it. [ 73 ] (see also Sunk cost fallacy ) Pseudocertainty effect , the tendency to make risk-averse choices if the expected outcome is positive, but make risk-seeking choices to avoid negative outcomes.
The word phobia may also refer to conditions other than true phobias. For example, the term hydrophobia is an old name for rabies, since an aversion to water is one of that disease's symptoms. A specific phobia to water is called aquaphobia instead.
Aversion to change emerges from classic conservatism’s respect for tradition. As Edmund Burke wrote: “When ancient opinions and rules of life are taken away, the loss cannot possibly be estimated.
Aversion therapy is a form of psychological treatment in which the patient is exposed to a stimulus while simultaneously being subjected to some form of discomfort. This conditioning is intended to cause the patient to associate the stimulus with unpleasant sensations with the intention of quelling the targeted (sometimes compulsive) behavior.
Loss aversion was popular in explaining many phenomena in traditional choice theory. In 1980, loss aversion was used in Thaler (1980) regarding endowment effect. [8] Loss aversion was also used to support the status quo bias in 1988, [9] and the equity premium puzzle in 1995. [10]
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