Daily Business Hustle

Here's exactly how I beat my loss aversion bias (bug in the human brain) to get more wealth, better at sales and marketing... Humans are hardwired to be risk averse, but you can beat it. “Want to connect on facebook? Add me on Facebook: http://www.facebook.com/aleksander.vitkin A lot of people are affected by loss aversion. It is just a way our brain works. It is a bug in our brain that prevents us from achieving true wealth in a lot of cases. You should read the book called “Brain Bugs”. There is a study in the book of where people have $50 and participants are told to either get $30 or they gamble that they can lose or get $50. Because it is safer to get the $30 people chose to get the $30. When they changed it to say: “You are going to lose $20 keeping only $30 and you can gamble that you keep $50 or lose the whole $50.” More that 60% chose to gamble even though the risk is the same in both examples. Just because you are supposed to lose something you are more likely to gamble. This is very useful