As humans, we hate loss. In fact, losing something emotionally impacts us more than gaining something of the same value. We can get so loss-averse that we’ll take risks just to avoid a loss, like how we sometimes cling onto a stock that continues to plummet in value because we desperately want the price to magically shoot back up.
To read the full post go to Hubspot. We’ve shared this because we think it may be helpful to the insurance community.
If the link above doesn’t work, cut and paste this url into your web browser: https://blog.hubspot.com/marketing/opportunity-cost-formula