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Behavioral Economics For Consultants: Use Psychology To Grow Your Business With Melina Palmer: Podcast #277

Consulting Success Podcast

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What Is a Loss Aversion?

The pain felt by a loss is twice as painful as the joy we feel by a realized or potential game. Our brains take ownership over things far before we realize it. An example that I love to use for thinking about this in a way that's not negative is an overnight test drive with a car. If you've ever bought a car and had even a single test drive, you're more likely to buy the car once you drive it than if you don't.

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