Which 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 refers to the tendency for individuals to strongly prefer avoiding losses over acquiring gains. This bias can impact decision making in a variety of contexts, including financial investments, gambling, and even health behaviors. Individuals who are particularly loss averse may be more likely to take conservative approaches or avoid risky options altogether, even if potential gains may outweigh potential losses.

Which of the Following Biases Refers to Individuals Who Tend