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The Prospect Theory Aversion to Loss

The Prospect Theory Aversion to Loss

Humans have an enormous aversion to loss. We fear and avoid loss far more than we seek gain. Loss aversion primarily manifests itself in three specific forms: Continuing to invest in something unprofitable simply because you’ve already invested in it. Overvaluing...
Shake It Off and Step Up

Shake It Off and Step Up

A farmer’s donkey falls into a deep well. He is now trapped, helpless. The poor animal cried for hours as the farmer stood above, trying to figure out what to do. Finally, after thinking it over, the farmer sighed, and sadly he knew what he had to do. The donkey...
Significance of Failure

Significance of Failure

The most successful people in this world are also the biggest failures: Walt Disney was fired from his dream animation job because they said he lacked creativity. Michael Jordan was cut from his high school basketball team because he wasn’t good enough. J.K....
Change

Change

Amazon founder Jeff Bezos once said that he’s often asked what’s going to change in the next ten years. “I almost never get the question: ‘What’s not going to change in the next ten years?’ he said. “And I submit to you that the second question is actually the more...
I Never Lose

I Never Lose

“I never lose; I either win or learn” reflects a disciplined approach to growth. In business, outcomes are measured not only by success, but by gaining insight. When an initiative misses its target or a strategy underperforms, the value lies in understanding why....