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Loss aversion changes as you age

It’s still unpleasant. And we all hate it. But it turns out our much we hate it depends on our age.

Loss aversion across the ages [Klement on Investing] – “But look at the change in this loss aversion factor relative to the age of the participants. Younger people aged 18 to 24 exhibit a loss aversion coefficient somewhere between 3 and 4 as do people aged 65 and over. But people in the midst of their working lives (aged 35 to 54) tend to have much lower loss aversion, somewhere between 1 and 2.” In other words, and the chart on the page illustrates this quite well, is that we are more loss averse early in life (18-24) and later in life (65+) than we are in the middle (35-44 and 45-54). Fascinating!

Would you buy hot food out of a vending machine? I think I’d try it.

The hamburger vending machine has arrived [Axios] – “A company called RoboBurger sells a machine that will make you a burger with custom toppings — from “grass and vegetarian fed 100% Angus beef, always antibiotic-free, raised with no artificial growth hormones” — in 6 minutes for $6.99.” Would you buy a hamburger out of a vending machine? It sounds crazy but is it really going to be worse than one being made by a kid making minimum wage?

I love this rule of pints.

Happy St Patrick’s Day: This is the rule of pints [CODE] – “Next we come to one of the foremost junctures in the rule of pints: having two pints doesn’t exist. To have two pints would be a waste of time. It would be to fail oneself.” Beautifully written and 100% accurate.

Happy Friday! And have a great weekend!