Comments on: Poker and Philosophy: “Avoiding Seven Costly Thinking Errors in Poker” (Loss Aversion) http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/ we're all in. are you? Thu, 29 Jul 2010 22:40:37 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Loss Aversion: What to do about it? | PokerMoments http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/comment-page-1/#comment-7502 Loss Aversion: What to do about it? | PokerMoments Fri, 09 Feb 2007 21:23:27 +0000 http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/#comment-7502 [...] I have written about loss aversion before.  It is the irrational tendency that people have to prefer avoiding losses rather than acquiring gains.  I know I have this problem, which is highlighted when I play poker, and I think that if I could deal with it better, I would become a much better poker player. [...] [...] I have written about loss aversion before.  It is the irrational tendency that people have to prefer avoiding losses rather than acquiring gains.  I know I have this problem, which is highlighted when I play poker, and I think that if I could deal with it better, I would become a much better poker player. [...]

]]> By: 1st Rule http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/comment-page-1/#comment-4574 1st Rule Sun, 31 Dec 2006 16:38:50 +0000 http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/#comment-4574 Although I agree with your decision most of the time, there is some instances where even the 1% chance is not worth the risk. Especially if you plan on taking that risk every time you play. Eventually you will hit that 1% and go broke. As a poker analogy I find the flaw in the absence of the negative. There is no poker hand where you have a chance to win and no chance to lose. So maybe you should have made the example that 1% of the time you lose 2.5m Although I agree with your decision most of the time, there is some instances where even the 1% chance is not worth the risk. Especially if you plan on taking that risk every time you play. Eventually you will hit that 1% and go broke. As a poker analogy I find the flaw in the absence of the negative. There is no poker hand where you have a chance to win and no chance to lose. So maybe you should have made the example that 1% of the time you lose 2.5m

]]> By: Suber http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/comment-page-1/#comment-4525 Suber Wed, 27 Dec 2006 01:58:33 +0000 http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/#comment-4525 I wonder how to better deal with loss aversion. I wonder how to better deal with loss aversion.

]]> By: Martin Alak http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/comment-page-1/#comment-4524 Martin Alak Wed, 27 Dec 2006 01:24:16 +0000 http://www.pokermoments.com/poker/poker-and-philosophy-avoiding-seven-costly-thinking-errors-in-poker-loss-aversion/#comment-4524 <i>most people suffer from what is called “loss aversion,” which is... “the tendency to prefer avoiding losses rather than acquiring gains.”</i> I don't play poker (I suffer from "loss aversion" too) but I find this same kind of thinking can infect other areas of one's life - investing for example, or anything that entails risk. most people suffer from what is called “loss aversion,” which is… “the tendency to prefer avoiding losses rather than acquiring gains.”

I don’t play poker (I suffer from “loss aversion” too) but I find this same kind of thinking can infect other areas of one’s life – investing for example, or anything that entails risk.

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