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Sunday, November 28, 2010

Nudge: Post #7

Gains and Losses: People hate to lose. Period. Have you ever tried to donate a kid’s never-used toy to Goodwill? If you have, you know that they’ll fight you to the death to hold onto it, despite the fact that they haven’t touched it in years. In fact, if you WANT someone to use something, just threaten it and see the results. However, according to the authors, this loss aversion type of “cognitive nudge” encourages us not to make changes “even when changes are very much in our interests.”

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