S E48: Behavioral Economics - We're only human!
Think Like An Economist
How to Evaluate Probabilities and Pay Offs
Bias can get in the way of making good decisions too, that's right. People tend to be about twice as sensitive to losses as they are to gains. So when i tell my student they get a bee, if i told them the day before to expect a sea, they feel pretty good. They feel like now they've earned something back, instead of having lost something.
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