Answered

Which of the following is an example of loss aversion?
Valuing something you own more than its actual worth
Choosing to keep gift money rather than investing it
Buying a product because it is popular with your friends
O Refusing to purchase a product because it is too expensive



Answer :

GinnyAnswer

Final answer:

Loss aversion is a cognitive bias where individuals prioritize avoiding losses over acquiring gains, impacting decision-making.


Explanation:

Loss aversion is a cognitive bias where people tend to prefer avoiding losses than acquiring equivalent gains. An example of loss aversion is valuing something you own more than its actual worth because you fear the loss of it. This bias makes individuals tend to make decisions based on avoiding losses rather than seeking gains.


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