Loss aversion usually changes exit behavior long before it changes stated beliefs. Core idea: People rarely say "I cannot accept this loss." They say "I still believe in the thesis." The behavior gives away what the emotion is doing. Why it matters: That matters because unmanaged loss aversion often turns a review process into a delay process. In real life: A position can stay in the book because realizing the pain feels worse than carrying the uncertainty. Common slip: The mistake is confusing emotional reluctance with analytical patience. Try this: On the next review, write down the one variable that would make you change your mind. That is usually where the edge is: not in the vocabulary, but in the structure underneath it.