The loss aversion bias was evident in a research study in which people's likelihood of using a disposable grocery bag provided by the store

Question

Quizplus · Accepted Answer

Loss aversion bias suggests that people prefer avoiding losses to acquiring equivalent gains. Charging 5 cents per bag led to a decrease in the use of disposable bags, showing a stronger reaction to a small loss than to a small gain, which did not change behavior when offered for using their own bag.

The Loss Aversion Bias Was Evident in a Research Study