Are you unconsciously sabotaging your own success? We can’t help it, according to Daniel Kahneman, a clinical psychologist who won the 2002 Nobel Memorial Prize in Economic Sciences, as reported in MyBusiness October 2003, p31.
But if you can learn to manage your intuitions, and your inherent ‘fear of loss’, you obtain a huge competitive advantage in any market place, as below:
[ Here's the deal: toss a coin. Heads, you win $1500; tails you lose $1000. Would you take the chance?
Speaking in Sydney in July 2003, Daniel Kahneman said that most people wouldn’t take the chance, even with repeated opportunities.
And in a related question … would you like to be more imaginative in your choice of investments, or more bold in your business development initiatives, but you can’t bear the thought of making losses? If so, you’re not alone. Read more of this post
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