A fear of regret can lock us into bad relationships, jobs and habits - here's how to break free
It's a bias related to money and it describes how investors hold on tight to losing assets. The driving force behind this behavior is our fear of regret.
It shows we are very hesitant to sell an asset at a loss and we tend to hang on to it as it keeps dropping in value, hoping it will pick up again.
SIMILAR ARTICLES & IDEAS:
It’s human nature to linger on feelings of regret. We look back and think that missed opportunities(real or not) could have set us on a different, possibly more rewarding path. Unchecked, th...
Status quo bias is when we prefer that our environment and situation should remain unchanged.
The bias has the most impact in the area of decision-making, as we tend to pre...
These explanations are all irrational for preferring the status quo:
The regrets that bother us the most involve failing to live up to our “ideal selves.”
We’re not as bothered by the mistakes we’ve made or the things we ought to have done as w...
People regret their inactions more than their actions in the long term.