Same Amount, but Losing Hurts More
by Anonymous · ⭐ 0 · 🍴 0
⚖️ You choose twice: «a sure +50» versus «a coin flip: +100 or 0», then «a sure −50» versus «a coin flip: −100 or 0». Within each pair the expected values are identical. Yet most people take the sure thing when gaining and the gamble when losing — what chose was the wording, gaining or losing, not the number. 🔁 Second, repetition. Do «a coin flip: +100 or 0» once and the result is only 0 or 100; there is no «average» at all. Repeat it 50 or 500 times and the average per round settles onto the expected value of 50. The thrill of a single try dissolves into many. 🔀 Third, rewording. «Milk with 90% of the fat removed» and «milk that is 10% fat»; «a 70% pass rate» and «a 30% failure rate» — the two numbers always add to 100. Same fact; if one still felt better, the wording chose. This app was made with code too · Remix it and change the number of repeats.
Ready to remix — hit the 🍴 Remix button below. You'll sign up first, then this app is copied into your workspace.
About this app
This interactive learning app explores loss aversion, expected value, probability, and framing effects. It lets you compare sure and risky choices with identical expected values, repeat a 50% chance of winning 100 to see the average approach 50, and compare equivalent facts expressed in different ways. The examples show how wording about gains, losses, success, failure, and delivery delays can influence judgment.
Use cases
- Adults learning about cognitive biases
- Teachers introducing probability and expected value
- Facilitators leading critical-thinking discussions
- Anyone practicing more careful interpretation of statistics
Features
- Compare sure +50 or −50 with a 50% chance of +100 or −100
- Choose separately in gain and loss scenarios and receive a response about the pattern
- Adjust the number of repeated rounds and compare average payoff with expected value
- View three pairs of equivalent statements using different wording
- Reset choices and move through the three interactive tabs