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This is part 2 of our two-part series on loss aversion. Previously we explained loss aversion and how it’s distinct from the endowment effect. Here we (as Beeminder) disavow loss aversion as a tool for behavior change. This isn’t like “ »
Archive for October, 2021
Loss Aversion vs The Endowment Effect
Tuesday, October 12th, 2021
This is part 1 of a two-part series. First we explain loss aversion and how it’s distinct from the endowment effect. (Spoiler: loss aversion is a generalization of the endowment effect.) Asking Google how those things are different currently yields a fog of opaque logorrhea, so we hope this is... »
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Beeminder is goal-tracking with teeth. We plot your progress on a graph with a Bright Red Line (formerly Yellow Brick Road). If your datapoints cross that line, we take your money.
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Akrasia
Akrasia (ancient Greek ἀκρασία, "lacking command over oneself"; adjective: "akratic") is the state of acting against one's better judgment, not doing what one genuinely wants to do. It encompasses procrastination, lack of self-control, lack of follow-through, and any kind of addictive behavior.
wikipedia.org/wiki/Akrasia
wikipedia.org/wiki/Akrasia