The author explain very clearly what the differences are between “people hate losses more than they like gains” and loss aversion. Loss aversion is people hating losing $1 while having $2 more than they like gaining $1 while having $1, even though it both case this the difference between having $1 and $2.
The author explain very clearly what the differences are between “people hate losses more than they like gains” and loss aversion. Loss aversion is people hating losing $1 while having $2 more than they like gaining $1 while having $1, even though it both case this the difference between having $1 and $2.