Which one of the following biases refers to individuals who tend to strongly prefer avoiding losses rather than acquiring gains?
A)loss leaders
B)zero-risk bias
C)self-serving bias
D)loss aversion
E)money illusion

Question

Quizplus · Accepted Answer

Loss aversion is the correct answer because it describes the psychological phenomenon where the pain of losing is psychologically about twice as powerful as the pleasure of gaining. People who exhibit loss aversion prefer avoiding losses to acquiring equivalent gains.

Which One of the Following Biases Refers to Individuals Who