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Loss Aversion

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May 1, 2024 4 minute read

Loss aversion is a bias in human behavior that causes people to experience more pain from losses than they do pleasure from gains. This means that people are more motivated to avoid losses than they are to pursue gains. Loss aversion was first described by Amos Tversky and Daniel Kahneman in their 1979 paper, "Prospect Theory: An Analysis of Decision under Risk."

Applications of Loss Aversion

Path to Loss Aversion

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Introduction to Behavioral Economics & Consumer Psychology

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Removing Barriers to Change

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Introduction to Behavioural Finance

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Behavioral Economics and Public Policy

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Reading list

We've selected two books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Loss Aversion.

Exotic Preferences

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Provides a comprehensive analysis of loss aversion in the context of consumer behavior. The authors explore how loss aversion affects product choice, brand loyalty, and other consumer decisions. is essential reading for anyone interested in marketing, advertising, or consumer research.

Exotic Preferences: Behavioral Economics and Human...

Hardcover

$$$$

EXOTIC PREFERENCES C: Behavioral Economics and...

Hardcover

$$$$

Advances in Behavioral Finance, Volume II

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Examines loss aversion in the context of financial decision making, discussing how it can lead to biases and suboptimal investment choices. The authors offer practical advice for investors and policymakers on how to mitigate the effects of loss aversion.

Advances in Behavioral Finance, Volume II

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Advances in Behavioral Finance, Volume II

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Relevant careers

Financial Advisor

Investment Analyst

Marketer

Psychologist

Salesperson

Negotiator

Consultant

Professor

Economist

Entrepreneur

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