The concept of loss aversion is:
A)a general tendency for people to put more effort into avoiding losses than achieving gains.
B)preferring certain outcomes over uncertain ones.
C)a general tendency for people to put more effort into achieving gains than avoiding losses.
D)a spectrum of tolerance for risky situations.

Question

Quizplus · Accepted Answer

Loss aversion refers to the tendency for people to put more effort into avoiding losses than achieving gains. It suggests that people are more motivated to avoid losses than to take risks to achieve gains or success. This concept has been studied in various fields, including psychology, economics, and marketing.

The Concept of Loss Aversion Is