OAKLAND, Calif. — We hate losing more than twice as much as we enjoy winning.
That's the harsh reality, according to psychologist Daniel Kahneman, who has extensively studied a concept called loss aversion. In a series of tests, Kahneman found that people want the possibility of gaining more than $20 before they're willing to accept possibly losing $10 on a coin flip.
Applying the principles of loss aversion to sports means we'd need to win more than two championships to make up for one we lost.
Or if you'd blown a 3-1 NBA Finals lead to lose that championship and ruin the greatest season in league history, you'd need more than two such historically fulfilling rallies for titles to make up for the devastating failure.