Loss aversion
id:
loss-aversion-183-2994523
title:
Loss aversion
text:
Loss aversion is a psychological and economic concept, which refers to how outcomes are interpreted as gains and losses where losses are subject to more sensitivity in people's responses compared to equivalent gains acquired. Kahneman and Tversky (1992) suggested that losses can be twice as powerful psychologically as gains. When defined in terms of the utility function shape as in the cumulative prospect theory (CPT), losses have a steeper utility than gains, thus being more "painful" than the
brand slug:
wiki
category slug:
encyclopedia
description:
Overall description of loss aversion theory
original url:
https://en.wikipedia.org/wiki/Loss_aversion
date created:
2004-03-24T02:48:45Z
date modified:
2024-09-06T18:01:27Z
main entity:
{"identifier":"Q2874240","url":"https://www.wikidata.org/entity/Q2874240"}
image:
{"content_url":"https://upload.wikimedia.org/wikipedia/commons/8/85/Loss_Aversion.png","width":1223,"height":1098}
fields total:
13
integrity:
16