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by lbhnact
3839 days ago
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I like the phrase 'utility hysteresis'. I would say that, at least academically, the difference between 'diminishing marginal utility' and 'loss aversion' is appreciated. To quote course material, 'When directly compared against each other, losses loom larger than gains'. The difference in perception on the gain and loss side has been tested some, and the curve is supposed to look like this: https://goo.gl/PS8Z7c |
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