Jamie Salsburg
Jamie Salsburg
AG 093: Sunk Cost Bias & Loss Aversion
AG 093: Sunk Cost Bias & Loss Aversion
AG 093: Sunk Cost Bias & Loss Aversion
Friday 18th November 2022
Jamie Salsburg explains how sunk cost bias and loss aversion drive gambling addiction, offering personal stories and practical tips on 'The After Gambling Podcast'.
Explicit
17 minutes
Informative
Educational
Eye-opening
Raw
Thought-provoking
About this podcast
Author:
Jamie Salsburg
Overview:
Categories:
Sobriety Toolkit
Financial Health in Recovery
Understanding Addiction & Recovery
Family Recovery from Addiction
Sexual Health in Recovery
Links:
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Episodes:
104 (View all)
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Get the buttons here!The Hidden Traps: Sunk Cost Bias and Loss Aversion in Gambling Addiction
When I look at gambling through this lens and through these two frameworks of sunk cost bias and loss aversion, all of a sudden I just start to see my gambling and, if I'm honest, a lot of other people that I've met along the way and I've gotten to really know their story and what led them and what drives them, and what really kind of was the accelerant to their gambling.
Ever found yourself chasing losses, thinking, 'I've already invested so much'? You're not alone. In this eye-opening episode of 'The After Gambling Podcast', Jamie Salsburg, a former compulsive gambler, breaks down two psychological traps that kept him hooked: sunk cost bias and loss aversion. Sunk cost bias is the tendency to continue a behavior because of previously invested resources, while loss aversion is our natural fear of losing more than we gain.
Jamie shares how these mental pitfalls influenced his gambling habits and how they can affect everyday decisions. He doesn't just stop at theory; Jamie dives into his own life, revealing moments where these biases led him astray and how he eventually overcame them. Whether you're dealing with addiction or just curious about human psychology, this episode offers valuable insights into why we sometimes make irrational choices.
Jamie's candid storytelling and practical advice make this a must-listen for anyone looking to understand the deeper mechanics of addiction and decision-making.