Sunk Cost Fallacy, Loss Aversion and Endowment Effect Explained with Examples

Why do we make stupid financial decisions? The answer lies in the millions of years of conditioning, sunk cost fallacy, loss aversion bias and endowment effect. What do all these things mean, and how do these affect your financial decisions? Find it out in this episode of the FutureIQ podcast. We've explained the sunk cost fallacy experiment with the help of some real-life examples that you may relate to in trading, economics, marketing, sales, gaming and many other places. Learn this now. More videos for you: Finishing Every Book Is a Waste of Time - 6 Hacks to Read More, Better, Faster: https://youtu.be/yViCi9qhzC4 Psychology Of Persuasion: https://youtu.be/lEvzk05XzOg Slippery slope fallacy: https://youtu.be/AdCXjrkK3hw Dollar value of time: https://youtu.be/C-8gffw9_h4 REI Article: https://www.psytoolkit.org/survey-library/thinking-style-rei.html Hope you enjoyed FutureIQ by Navin Kabra and Shrikant Joshi. Do hit us up on Twitter: @ngkabra http://twitter.com/ngkabra @shrikant https://twitter.com/shrikant Listen it on the podcast provider of your choice: https://tapthe.link/FutureIQRSS Watch other episodes of The FutureIQ podcast: https://www.youtube.com/playlist?list=PLAppTB0r5_TaYueZ0adD42Wiw5X-wTE4v #futureiq #psychology