“How could they possibly just let this go? Do they even care? I mean, even a little?!”
If you’ve ever uttered that, you too have been baffled by loss aversion.
“They’re supposed to not want… bad. And yet they just keep doing it. Yeesh.”
Which is why Dan Ariely says,
People aren’t just loss averse; they are also effort averse.
People don’t like to lose. They also don’t like to have to work too hard.
Whatever you’re doing, whatever value you’re creating, don’t ONLY look at what bad you’re helping people avoid, also look at what effort (i.e. frictions) you’re helping them reduce or remove.