Choiceology with Katy Milkman cover image

To Fight Another Day: With Guests Alex Imas & Mary Stockwell

Choiceology with Katy Milkman

CHAPTER

Importance of Taking Breaks in Financial Decision-Making

Exploring the benefits of taking breaks between financial decisions to reset our reference point and make clearer choices, avoiding the pitfalls of chasing losses or realizing gains too hastily. This chapter delves into the Realization Effect and the Fresh Start Effect, illustrating how giving ourselves time can lead to better decision-making in risky situations.

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