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Why most people refuse to sell their lottery tickets for twice what they paid

The lottery provides a wonderful real life test for how the cognitive bias of regret avoidance impacts our decision making. The Powerball jackpot rose to $US700 million at the time the above video was first published – the current Powerball jackpot has reached over $US620 million. Meanwhile, the Mega Millions […]
Why most people refuse to sell their lottery tickets for twice what they paid