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Poker Discussion
General Poker
Loss Aversion - Cognitive Biases
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[QUOTE="Statsman1, post: 5277255, member: 317695"] I have a really tough time throwing chips into the pot because "the math says I'm priced in" or "well, I have equity" or whatever rationalization I can come up with, when those chips are likely going to end up in someone else's stack. Writing this, I realize that I have a "loss aversion" of sorts - I [B]know[/B] that if I fold in any situation, I [B]won't[/B] be eliminated. I further [B]know[/B] that if I don't fold, I [B]might[/B] be eliminated. Weighing that difference (what is guaranteed vs. what isn't) is to me where one measures loss aversion. I am willing to acknowledge that I've folded and abandoned pots I would have won by sticking my chips in...but nobody is EVER eliminated from a tournament by folding with chips in front of them. [/QUOTE]
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Loss Aversion - Cognitive Biases
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