Of loss aversion and adaptation

11:12 AM

After I don't know when, I finally finished a book (The Upside of Irrationality). A little sense of accomplishment and I am tapping my back right now. Haha. Since I'm a little forgetful lately, will immortalize here some of my major takeaways with the book vis-a-vis my personal musings. 

Loss Aversion 

I think it's an economic term but as I understand it, it's the nagging feeling of losing something you don't even actually have. It's like playing the game "Deal or No Deal" where you begin with nothing. However as the game progresses, you start to feel entitled to the cash you are about to win. Hence, when you lose the cash you become depressed to the idea of losing, when in fact you didn't even own a single cent of it. You cry over something that was never yours in the first place. 

Ouch right? Guilty as charged we all have the tendency to jump the gun before we actually have it and sometimes it bogged us down. So if you have plans of claiming something just have this concept in mind, that way, you'll think twice before weeping on something you "thought" you lost. 


"Real adaptation implies that we play psychological tricks on ourselves to make reality acceptable." 

The strength of adaptation comes from the strength of actually accepting things which can never be. It is about learning to discover our limitation, our strength and living with the fact that we are no super hero and that we can only do much. Positively taken, it is about appreciating what is  on our table and making the best out of it. 

Still got some concepts but these two are most applicable during critical moments of our life which can help us get through. 

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