One of the beliefs of psycho-economics (the study of behaviors in finance) is that losses are more important to corporations or individuals than gains. For instance, if we were negotiating a renewal contract with your hospital and we lowered your price, but then asked for our payment terms to change from 45 days to 30 days, we would get push back because it would be perceived as a loss to you – not a gain. It’s a natural human reaction to change! This is important information that we as value analysis professionals should keep in mind.
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