Loss Aversion
by Anonymous
Compare gain and loss options with identical expected values, repeat the gamble, and reword the same fact to see that the phrasing, not the number, decides.
#expectedvalue#probability#cognitivebias#criticalthinking#lossaversion#adults#literacy#psychology#decisionmaking
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About this app
Loss Aversion is an interactive learning app about how framing and loss aversion can influence decisions even when options have the same expected value. Compare sure gains with risky gains, sure losses with risky losses, repeat a 50/50 outcome to observe averages approaching expected value, and choose between differently worded versions of the same facts.
Use cases
- Students learning probability and cognitive biases
- Adults exploring decision-making psychology
- Teachers demonstrating expected value and framing effects
- Anyone practicing critical thinking about numerical claims
Features
- Compares sure and risky gain or loss choices with equal expected values
- Displays expected values for each option
- Simulates repeated 50/50 outcomes with adjustable repetition counts
- Shows the difference between one result and a long-run average
- Presents three pairs of equivalent statements with different wording
- Includes interactive missions across the choice, repetition, and framing sections