Loss aversion

Written by Guido Jansen in
October 2010

Theory:

The feeling of giving something up is stronger than the feeling of acquiring it. 

Application:

People like to gain. But people hate to loose. Some psychological studies even show that losses are twice as powerfull as gains. So instead of persuading people to buy your products in terms of what they have to gain, try to persuade them in terms of what they will loose when they don't. (Further reading: Loss Aversion, Wikipedia

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