A Lesson in Loss Aversion - Deepstash
How to Cope With Intrusive Thoughts

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How to Cope With Intrusive Thoughts

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A Lesson in Loss Aversion

A Lesson in Loss Aversion

Sometimes, it is hard to let go of something valuable without realizing that letting go is greater than we think. 

Sometimes, a loss can feel more powerful than a gain of the same magnitude and vice versa. Considering the pain of a loss – or euphoria of a gain – can weigh heavily on future decisions it can cause more harm than good.

79

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A Lesson in Confirmation Bias

A Lesson in Confirmation Bias

Confirmation bias is when you actually seek out evidence to support a predisposed belief

In this strip, Dilbert's boss believes that his managerial skills can affect the company stock. His belief is later reinforced, mostly by coincidence. However, because he was affected by bias h...

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314 reads

Behavioral Economics

Behavioral Economics

.... refers to the study of how social and psychological factors (decisions made by an individual, institution or business) can affect the market and its resources.

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A Lesson in Framing

A Lesson in Framing

Framing refers to how a person makes decision depending upon how the information is presented. Framing effect is often used in marketing to influence decision-makers and purchases.

You can use this strategy to engage customers to buy your products. But depending on how you frame your...

78

353 reads

Dilbert

Dilbert

Written by Scott Adams, is an 'infamous' comic strip that shows a humorous look in office life, but also manifests lessons on behavioral economics.

69

777 reads

A Lesson in Overconfidence

A Lesson in Overconfidence

Dilbert’s boss shows overconfidence by assuming that all management is – himself included – above average. This is hardly the truth, in general. As for Dilbert’s boss, he completely misses the jab attacking his math skills because he’s too focused on himself.

Overconfidence of bosses can...

75

372 reads

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lolaf

"You have to go broke three times to learn how to make a living." ~ Casey Stengel

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Common Explanations for Status Quo Bias

These explanations are all irrational for preferring the status quo:

  • Loss Aversion: When we make decisions, we weigh the potential for loss more heavily than the potential for gain.
  • Sunk Costs: We continue to invest resources like time, mone...

Other Tips From Jordan Peterson For a Better Life

  • Consider that any hierarchy creates winners and losers. The winners are more likely to justify the hierarchy and the losers to criticize it.
  • Understand that hierarchy is inescapable. The pursuit of goals lends life meaning and the collective pursuit of goals produces hi...

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