http://pietroortoleva.com/papers/WTA-P.pdf
3 new facts that contradict standard theories:
* the endowment effect is unrelated to #LossAversion for risky prospects;
* WTA & WTP are largely uncorrelated;
* WTA & WTP are related to different, independent features of risk preferences.
…results contradict the standard explanation of the #EndowmentEffect in #BehavioralEconomics that it is due to an asymmetry in the treatment of gains and losses is manifest in loss aversion for risky prospects.
#BoundedRationality

Don’t Use A Pros & Cons List
https://www.forbes.com/sites/jenamcgregor/2023/01/11/to-make-good-decisions-dont-use-a-pros-and-cons-list/?sh=2ae7946d7de7

When trying to make decisions about change, people are typically biased against the switch due to the concept of #LossAversion.
#DecisionMaking expert Annie Duke shares her advice on making tough calls in one’s career, suggesting to project forward, develop “kill criteria”, and get a “quitting coach." Include the word “unless” in any goal or resolutions to avoid the feeling of failure and set realistic standards.

#bias #BoundedRationality