Ariali set up a booth in a well trafficked area. Passers by could purchase chocolates, a hershy's kisses for one penny, or a piece of lint, truffles for 15 cents each. The majority of people who faced this offer, they chose the truffles. Ariali believes your loss aversion remains inactive without it. Without it, you don't weigh the pros and cons with as much attention to detail as if you had to factor in potential losses.
Are you throwing good money after bad? Are you stuck in a job, a relationship, a degree, or some other situation that you know you should abandon but fear you'll have wasted years of time and effort? Are you in pain because of your fear of having done something in vain? This episode, learn all about the sunk cost fallacy and how you sometimes get stuck in a wasteful loop of behavior because of your fear of loss.
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