As the late baseball manager Sparky Anderson put it: “Losing hurts twice as bad as winning feels good.
L. Jon WertheimTag: kindlehighlight
Inside the opponent’s 45-yard line, facing anything less than fourth and eight, teams are better off going for it than punting. Inside the opponent’s 33-yard line, they are better off going for it on anything less than fourth and 11.* Regardless of field position, on anything less than fourth and five, teams are always better off going for it.
L. Jon WertheimTag: kindlehighlight
Time and again, we let the fear of loss overpower rational decision-making and often make ourselves worse off just to avoid a potential loss. Psychologists call this loss aversion, and it means we often tend to prefer avoiding losses at the expense of acquiring gains.
L. Jon WertheimTag: kindlehighlight
the pain of losing a dollar is far more powerful than the pleasure of winning a dollar.
L. Jon WertheimTag: kindlehighlight
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