Thinking Fast and Slow (part 2)
What You Will Learn
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The Pain of Losing $100
Ashto: I'm going to offer you a bit of a gamble here, Ashto. Let's say if I toss this coin here, if it lands on tails, you lose $100. If it lands on heads, you win $100. Most people wouldn't choose his bet because the expected value is basically zero. But for most people, the pain of losing $100 is actually more than the benefits of winning $100.
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