What category does Loss Aversion belong to?

Loss Aversion belongs to the "Cognitive Biases" category in personal knowledge management and productivity.

What are the key topics related to Loss Aversion?

Key topics related to Loss Aversion include: cognitive-biases, cognition, decision-making, psychology.

What are alternative names for Loss Aversion?

Loss Aversion is also known as: Loss bias.

Loss Aversion

The pain of losing is psychologically stronger than the pleasure of gaining.

Also known as: Loss bias

Category: Cognitive Biases

Tags: cognitive-biases, cognition, decision-making, psychology

Explanation

Loss Aversion is the psychological phenomenon where the pain of losing something is about twice as powerful as the pleasure of gaining the equivalent. We are more motivated to avoid losses than to acquire gains. This influences decision-making and risk tolerance. In PKM, loss aversion may make us reluctant to delete notes (even useless ones) or abandon systems we've invested in. Recognizing this bias helps make more rational decisions about what to keep.

Related Concepts

Collector's Fallacy
Sunk Cost Fallacy

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