How Much Is A Bird in The Hand Worth?
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Hey, Vsauce. Michael here. And as they say, "a bird in the hand is worth two in the bush." What it means is that it's better to have a certain advantage than to have nothing, except the possibility of a greater one. But two birds in the bush? Who calculated that? What really is the value of a bird in the hand? Well, according to Julian Baggini, a bird in the hand is technically worth 2.48 birds in the bush. He calculated that number by looking at observations from studies of what psychologists call loss aversion. Loss aversion is a name given to the tendency we humans have to more strongly prefer to avoid losing something we have than to gain something that we don't. In general, it's been shown that if someone loses a hundr...
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Hey, Vsauce. Michael here. And as they say, "a bird in the hand is worth two in the bush." What it means is that it's better to have a certain advantage than to have nothing, except the possibility of a greater one. But two birds in the bush? Who calculated that? What really is the value of a bird in the hand? Well, according to Julian Baggini, a bird in the hand is technically worth 2.48 birds in the bush. He calculated that number by looking at observations from studies of what psychologists call loss aversion. Loss aversion is a name given to the tendency we humans have to more strongly prefer to avoid losing something we have than to gain something that we don't. In general, it's been shown that if someone loses a hundr...
