Imagine this scenario: a colleague offers to flip a coin and give you $20 if it lands on heads. If it lands on tails, you give him $20. Stop and ponder; would you accept that bet? For most of us, the answer is no. Behavioral science experts Amos Tversky and Daniel Kahneman performed an experiment which resulted in a clear example of human bias towards losses. The experiment involved asking people if they would accept a bet based on the […]