Isn't the bias in loss aversion the fact that losing 50 bucks out of 100 isn't symmetric to winning 50 bucks from a capital of 100? If I lose 50, I need to double my new capital to recover my former position, but when I win 50, I "only" need to lose 33% of my new capital. When I lose, relatively speaking, I'm further away than when I win.
That would be risk aversion; the fact that marginal utility of money/wealth/ gains decreases as one gets more wealthy.
Loss aversion is the “fact” that “buy now to save 10$” is less motivating than “buy now to avoid 10$ surcharge”, and that “here’s 100$; if the coin tails, you lose $50” is more distressful than “here’s $50; if the coin heads, you gain another $50”.
