As the late baseball manager Sparky Anderson put it: Losing hurts twice as bad as winning feels good.
L. Jon Wertheim
The pain of losing a dollar is far more powerful than the pleasure of winning a dollar.
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Time and again, we let the fear of loss overpower rational decision-making and often make ourselves worse off just to avoid a potential loss. Psychologists call this loss aversion, and it means we often tend to prefer avoiding losses at the expense of acquiring gains.
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