Humans, like our primate ancestors, really don’t like losing things. In fact, we get much more emotional about losing things than we get happy about gaining things. Our loss aversion, as this bias is called, has an enormous impact on our behavior in many areas -- from how we take care of our bodies to how we make investments.
In today's lesson, Tim Ferriss introduced a completely counterintuitive way to take advantage of our loss aversion. Since we really don't want to give things up, especially to groups that we don't like, then the threat of losing things, such as money, can be a powerful motivator to help us achieve a goal, whether it is learning a new language or quitting smoking.