Tyler Odean

Most people choose not to take action because humans are very loss averse. We all want to minimize regret, and we tend to ascribe more regret to acting rather than failing to act. Failing to act doesn’t really feel like our fault. If you’re trying to be persuasive, you can anticipate this instinct. If you desire a particular outcome, make sure that your stakeholders need to take action to achieve a different one. Always, always, always phrase what you want to have occur as the thing that will happen if nobody does anything.

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