10min chapter

The Decision Education Podcast cover image

Episode 025: Thinking 101 with Dr. Woo-kyoung Ahn

The Decision Education Podcast

CHAPTER

The Power of Loss Aversion in Sales

The speakers compare two different sales techniques - starting with a low price and adding on features versus starting with a high price and removing features. They explain how framing options in terms of losses rather than gains can lead to people spending more money on the car.

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