The impact of loss
aversion and overconfidence on corporate strategies, the difficulties of predicting what will make us happy in the future, the challenges of properly
framing risks at work and at home, the profound effect of cognitive biases on everything from playing the stock market to planning the next vacation - each of these can be understood only
by knowing how the two systems work together to shape our judgments and decisions.
Real estate agents can minimize their clients» concession
aversion and the impact of negative procedural
frames by reframing proposals received from the other side before presenting the proposal to their clients.