 So I started noticing over and over again that the impact of bad things seemed to be stronger than the impact of good things. The economists had noticed this with loss aversion. Loss aversion, first described by the psychologists Danny Kahneman and Amos Tversky, notes that people are generally more sensitive to losses than to gains, even if they're equal in magnitude. Economists have tested this by gauging people's reactions to winning and losing money.