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Jonathan Clement's Blog: Par For The Course: Loss Aversion

FYI: MANY OF US suffer from so-called loss aversion: We get more pain from losses than pleasure from gains. In other words, we’d rather not lose $5 than find $5 we never had.

Loss aversion has been extensively studied in financial decision-making. But it also applies to sports—especially golf. For instance, tournament coordinators might change a hole from a short par 5 to a long par 4. Par measures the number of strokes a golfer is expected to take to complete the hole—and, if they don’t, they “lose” relative to par.
Regards,
Ted
https://humbledollar.com/2019/05/par-for-the-course/
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