
Simon Says: Losses, Gains, and the Game of Golf
Many people are susceptible to loss aversion and golfers are no exception. Loss aversion means that individuals feel the pain of loss more than twice, as much as the benefit of the equivalent gain. In golf, this means the golfer psychologically suffers more from a bogey on a hole than the joy of a birdie. In other walks of life, people hold on to loss-making stocks longer than they should because they fear the emotional consequences of selling at a loss. Soccer teams play for the draw rather than the








