Loss aversion

What it is

Feeling a loss roughly twice as strongly as an equal gain, which makes us cling to what we have and avoid risk when ahead.

Example Refusing a coin-flip that wins $110 or loses $100, although it is favourable.

Sunk-cost fallacy bias
Abandoning a project feels like making the loss real, so we keep throwing resources at it.
Endowment effect bias
Giving up what we own feels like a loss, so we value it more.
Framing effect bias
Framing something as a loss or as a gain changes our choice because we weigh losses more.
Negativity bias bias
Both are the same asymmetry in two settings: bad outweighs good, losses outweigh gains.
Scarcity error bias
A limited-time offer frames missing out as a loss.
Status quo bias bias
A change feels like a possible loss, so we stay with what we have.
Fear of regret bias
Both make us avoid the choice that could leave us worse off than before.
Inability to close doors bias
Closing a door feels like a loss, even of an option we would never use.