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Cognitive bias: Loss aversion animation

May 25, 2020 by Patrick Casey

In broad terms, traditional finance theory assumes we make decisions in a rational and unbiased manner. Whereas, behavioural finance theory states that this in fact isn’t always the case.

For example, when making decisions that affect our financial wellbeing, there can be a behaviour gap between what we potentially should do and what we actually do.

Cognitive bias can play a part in this behaviour gap. Importantly, the influence of cognitive bias isn’t limited to investing – it can extend to, for example, consumer spending, saving for retirement and purchasing of insurance.

In this animation, we illustrate loss aversion, a cognitive bias that can influence our decision-making. Loss aversion is the tendency to prefer avoiding the pain of losses more than the reward of gains.

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If you’d like to find out more about any of the above opportunities, then please get in touch.

We’d be more than happy to run through your financial situation with you to ensure you’re making the most of your superannuation accounts.

If this article interested you and you would like to speak to Pat Casey on the phone, select a time to speak Pat – Financial Planner Sydney.

At Assure Wealth we specialise in helping busy, successful families structure their finances to achieve greater wealth and financial peace of mind.

Author: Pat Casey – Managing Director & Financial Planner Sydney – Assure Wealth

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Disclaimer: The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Walker Lane Pty Ltd Adviser before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Walker Lane nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.

Assure Wealth Pty Ltd ABN 31 965 466 780 Corporate Authorised Representative no. 1244817, Patrick Casey Sub-Authorised Representative no. 1244748 of Walker Lane Pty Ltd ABN 70 626 199 826, an AFSL holder No 509305.

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Assure Wealth Pty Ltd ABN 31 965 466 780 Corporate Authorised Representative no. 1244817, Patrick Casey Sub-Authorised Representative no. 1244748 of Walker Lane Pty Ltd ABN 70 626 199 826, an AFSL holder No 509305.

The information provided on this website has been provided as general advice only. We have not considered your financial circumstances, needs or objectives and you should seek the assistance of your Walker Lane Pty Ltd Adviser before you make any decision regarding any products mentioned in this communication. Whilst all care has been taken in the preparation of this material, no warranty is given in respect of the information provided and accordingly neither Walker Lane Pty Ltd nor its related entities, employees or agents shall be liable on any ground whatsoever with respect to decisions or actions taken as a result of you acting upon such information.