Friday, February 7, 2014

Eating a lion doesn't make up for being eaten by a lion

A relative shared some potential good news with me yesterday. She didn't want to get too excited though, because it wasn't yet a "sure thing". I told her she should get excited and enjoy the "good news". Worst case, if things didn't really work out, at least she felt good for a few days.

I mentioned this to the boys this morning and asked them if the agreed with me. They didn't. They all preferred not to get excited because the disappointment if things didn't work out would more than offset the benefits of assuming the good news would pan out. Nico said that bad news stay with him longer than good ones.

Ale mentioned research that shows most people are more negatively impacted by a loss than positively impacted by an equal gain. In terms of money, for example, winning $100 then loosing $100 is worst for most people than not winning or loosing anything (even though they should be indifferent between the two scenarios). Or, in a related situation, people prefer a certain gain of $45 to a 50% chance of winning $100 (even though they should prefer the later).

I am not so sure... Maybe it is the entrepreneur in me, but I like roller coasters. Give me pleasure and pain. Don't give me dullness.

Nico put their point of view best: eating a lion doesn't compensate for being eaten by a lion.

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