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2 cards from this section. Quick, good the night before a test.
Define loss aversion in your own words.
Think about how you feel when you lose money versus gaining money.
What does FOMO stand for?
Consider the feelings you experience when you think others are enjoying something you're not.
What is loss aversion?
Consider how you feel about losing money versus gaining money.
True or False: Loss aversion only applies to monetary values.
Think broader than just physical money.
Suppose a company offers a 20% discount on a premium product for a limited time. Discuss how loss aversion may affect the purchasing decision of a customer when faced with this offer.
Consider emotions tied to perceived savings.
Analyze a marketing campaign that promotes a free trial for a subscription service. Discuss how loss aversion is applied in this context.
Think about the implications of access over time.
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