“In sum, our critical review of loss aversion highlights that, even in contemporary times, wrong ideas can persist for a long time despite contrary evidence, and therefore, that there is a need to critically assess accepted beliefs and to be wary of institutional consensus in science and otherwise. While loss aversion has frequently been cited to explain why people are biased toward the status quo, perhaps fittingly, the case of loss aversion illustrates the importance of challenging science’s status quo.”
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