2min chapter

The Jordan Harbinger Show cover image

414: Jonah Berger | How to Change Anyone's Mind

The Jordan Harbinger Show

CHAPTER

Switching Costs and Loss Aversion

Loss aversion happens anytime we switch from an old thing to a new thing. The longer you live in a home, for example, the more you value that home above and beyond market price because it becomes hard to imagine giving it up. Lots of research often shows that gains have to be two times the size of losses to get us to give up old things.

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