Friday, October 22, 2004
From Scientific American.com:
But we know from the research of Nobelist psychologist Daniel Kahneman of Princeton University and his late colleague Amos Tversky of Standford that losses (in this case, opportunity costs) have a much greater psychological impact than gains. Losses make us hurt more than gains make us feel good.
So that makes us all innate pessimists, in a way. Our subconscious dictates that the effects of failures and losses turn out to be more magnified when compared to relatively happy joyous moments. Just like how even though I do feel great after an enjoyable night-out, that feeling can never compare to the sense of pain I still feel today from losing a friend to sudden cardiac arrhythmia seven months ago. To be frank, I believe the intensity of this pain will still remain, for years to come.
Regret may be one reason for our aversion to losses. Have you ever bought an expensive pair of shoes only to discover that they are so uncomfortable that you cannot wear them for more than 10 minutes without hobbling? Did you toss them out, or are they still sitting in the back of your closet? Chances are you had a hard time throwing them away. Having bought the shoes, you incurred an actual, or "sunk," cost, and you are going to keep them around in the hope that eventually you will get your money's worth out of them. To give the shoes away or throw them out would force you to acknowledge a mistake - a loss.
Interesting analysis of the psychological frame of mind behind our actions, everything appears to fall into place. Especially that pair of barely-worn heels shelved in my shoe cupboard.
A phenomenon called adaptation also contributes to the fallout we face from too many choices. Simply put, we get used to things, and as a result, very little in life turns out quite as good as we expect it to be. After much anguish, you might decide to buy a Lexus and then try to put all the attractions out of your mind. But once you are driving your new car, adaptation begins, and the experience falls just a little bit flat. You are hit with a double whammy - regret about what you did not choose and disappointment with what you did, even if your final decision was not bad.
I've been experiencing adaptation all while without knowing it is termed adaptation. Moreover, I have to add that the impact of adaptation can be very much worsened by the existence of plenty of choices and insufficient resources. The double whammy could hurt three-fold instead.
Alex C. Michalos of the University of Northern British Columbia has pointed out that all our evaluations of the things we do and buy depend on comparison - to past experiences to what we were hoping for, and to what we expected.
Other aspects of life also work on this same basis too. Our judgements and evaluations of other people's behaviors; how we impose moral values onto people's actions without realizing so. In the end, there is no wrong because all standards are but man-made devices that we've succumbed to and we should evaluate less, if possible, so that we can be happier beings.
This is an interesting read that's surprisingly close to heart. Enjoyable assigned reading, finally, a reality.
But we know from the research of Nobelist psychologist Daniel Kahneman of Princeton University and his late colleague Amos Tversky of Standford that losses (in this case, opportunity costs) have a much greater psychological impact than gains. Losses make us hurt more than gains make us feel good.
So that makes us all innate pessimists, in a way. Our subconscious dictates that the effects of failures and losses turn out to be more magnified when compared to relatively happy joyous moments. Just like how even though I do feel great after an enjoyable night-out, that feeling can never compare to the sense of pain I still feel today from losing a friend to sudden cardiac arrhythmia seven months ago. To be frank, I believe the intensity of this pain will still remain, for years to come.
Regret may be one reason for our aversion to losses. Have you ever bought an expensive pair of shoes only to discover that they are so uncomfortable that you cannot wear them for more than 10 minutes without hobbling? Did you toss them out, or are they still sitting in the back of your closet? Chances are you had a hard time throwing them away. Having bought the shoes, you incurred an actual, or "sunk," cost, and you are going to keep them around in the hope that eventually you will get your money's worth out of them. To give the shoes away or throw them out would force you to acknowledge a mistake - a loss.
Interesting analysis of the psychological frame of mind behind our actions, everything appears to fall into place. Especially that pair of barely-worn heels shelved in my shoe cupboard.
A phenomenon called adaptation also contributes to the fallout we face from too many choices. Simply put, we get used to things, and as a result, very little in life turns out quite as good as we expect it to be. After much anguish, you might decide to buy a Lexus and then try to put all the attractions out of your mind. But once you are driving your new car, adaptation begins, and the experience falls just a little bit flat. You are hit with a double whammy - regret about what you did not choose and disappointment with what you did, even if your final decision was not bad.
I've been experiencing adaptation all while without knowing it is termed adaptation. Moreover, I have to add that the impact of adaptation can be very much worsened by the existence of plenty of choices and insufficient resources. The double whammy could hurt three-fold instead.
Alex C. Michalos of the University of Northern British Columbia has pointed out that all our evaluations of the things we do and buy depend on comparison - to past experiences to what we were hoping for, and to what we expected.
Other aspects of life also work on this same basis too. Our judgements and evaluations of other people's behaviors; how we impose moral values onto people's actions without realizing so. In the end, there is no wrong because all standards are but man-made devices that we've succumbed to and we should evaluate less, if possible, so that we can be happier beings.
This is an interesting read that's surprisingly close to heart. Enjoyable assigned reading, finally, a reality.
