Loss Aversion - Another Golf Problem To Deal With
by One-Eyed Golfer Guy on Nov 17, 2009 8:41 PM EST
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PrintTiger Woods systematically misses birdie putts in order to avoid making bogeys.
Two professors from the University of Pennsylvania studied data from 230 PGA tournaments to come up with their data. According to them, the results showed them. "the agony of a bogey seems to outweigh the thrill of a birdie".
From Reuters:
"The researchers found that golfers avoid the possibility of loss by playing conservatively when they could do better than par, but will try harder if they are at risk of coming in above par. Pope said "loss aversion" is part of a growing field of behavioral economics, which explores how human psychology impacts markets and business".
I thought it was because of clicking cameras..!!
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