Concept information
Preferred term
loss aversion
Definition
- Definition Loss aversion refers to people's tendency to prefer avoiding losses to acquiring gains of equal magnitude. In other words, the value people place on avoiding a certain loss is higher than the value of acquiring a gain of equal size. [Source: Encyclopedia of Social Psychology; Loss Aversion]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/loss_aversion
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