Okay, late night thoughts:
Imagine you're offered two choices.
1. A guaranteed $100.
2. A 50% chance at $200, and a 50% chance at $0.
Most people pick the sure thing. But mathematically, they're identical. Why do we fear the loss more than we value the potential gain? What does that say about how we make decisions, even big ones?
Imagine you're offered two choices.
1. A guaranteed $100.
2. A 50% chance at $200, and a 50% chance at $0.
Most people pick the sure thing. But mathematically, they're identical. Why do we fear the loss more than we value the potential gain? What does that say about how we make decisions, even big ones?
Okay, late night thoughts:
Imagine you're offered two choices.
1. A guaranteed $100.
2. A 50% chance at $200, and a 50% chance at $0.
Most people pick the sure thing. But mathematically, they're identical. Why do we fear the loss more than we value the potential gain? What does that say about how we make decisions, even big ones?
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