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Loss Aversion
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A cognitive bias that describes why the pain of losing is psychologically twice as powerful as the pleasure of gaining.
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Introduction
People are hardwired to avoid losses.
This is partly because the feeling of losing is 2x more powerful than that of winning.
Loss aversion in UX
In UX, this can manifest in many ways.
For example, after entering personal information into a form, the user may be nervous about clicking the 'back' button in their browser.
Their aversion to loss in this example, is losing the data they've entered, and therefore their progress.
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Potential impacts
Churn
Conversion rates
- People may be hesitant to make large commitments (i.e., signing up to an annual plan, if they're not sure that they'll get value from it).
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Written by Peter Ramsey
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