{domain:"www.qualitydigest.com",server:"169.47.211.87"} Skip to main content

User account menu
Main navigation
  • Topics
    • Customer Care
    • FDA Compliance
    • Healthcare
    • Innovation
    • Lean
    • Management
    • Metrology
    • Operations
    • Risk Management
    • Six Sigma
    • Standards
    • Statistics
    • Supply Chain
    • Sustainability
    • Training
  • Videos/Webinars
    • All videos
    • Product Demos
    • Webinars
  • Advertise
    • Advertise
    • Submit B2B Press Release
    • Write for us
  • Metrology Hub
  • Training
  • Subscribe
  • Log in
Mobile Menu
  • Home
  • Topics
    • 3D Metrology-CMSC
    • Customer Care
    • FDA Compliance
    • Healthcare
    • Innovation
    • Lean
    • Management
    • Metrology
    • Operations
    • Risk Management
    • Six Sigma
    • Standards
    • Statistics
    • Supply Chain
    • Sustainability
    • Training
  • Login / Subscribe
  • More...
    • All Features
    • All News
    • All Videos
    • Contact
    • Training

Three Reasons You Get Suck(er)ed Into Black Friday and Cyber Monday Sales

We just hate to miss out

"Black Friday" Credit: Adafruit Industries

Gleb Tsipursky
Tue, 11/22/2022 - 12:03
  • Comment
  • RSS

Social Sharing block

  • Print
Body

Imagine you put on an old coat you haven’t worn in a while, and to your surprise you find a crumpled $20 bill in your pocket. How good does it feel? Do you go up half of a notch on a 1–10 mood scale—or maybe a full notch?

ADVERTISEMENT

Let’s imagine a different scenario. Your grandmother calls to say she hopes you can use the $20 she sent with your birthday card, which you have since thrown away, along with the $20 that you somehow missed. What does that do to your mood on the 1–10 scale?

If you’re like most people, you feel a greater shift in mood losing $20 than gaining it. That tendency is called loss aversion, one of many cognitive biases. This is where the saying “fear of missing out” or FOMO, has its origins. Loss aversion is one of the most fundamental insights of a field of behavioral science called “prospect theory.”

 …

Want to continue?
Log in or create a FREE account.
Enter your username or email address
Enter the password that accompanies your username.
By logging in you agree to receive communication from Quality Digest. Privacy Policy.
Create a FREE account
Forgot My Password

Add new comment

Image CAPTCHA
Enter the characters shown in the image.
Please login to comment.
      

© 2025 Quality Digest. Copyright on content held by Quality Digest or by individual authors. Contact Quality Digest for reprint information.
“Quality Digest" is a trademark owned by Quality Circle Institute Inc.

footer
  • Home
  • Print QD: 1995-2008
  • Print QD: 2008-2009
  • Videos
  • Privacy Policy
  • Write for us
footer second menu
  • Subscribe to Quality Digest
  • About Us
  • Contact Us