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Relative loss is more painful than absolute loss.
Classic scene:
Your investment: 0% return (no loss at all)
Colleague's investment: +50% return
Your emotional feeling: it feels like you've lost 50%!
Why is this happening?
Because in the ancient logic of the brain: relative disadvantage = decline in status = threat to survival
Even if you have no objective loss, the relative decline in status will still activate the brain's danger alarm system.