Some years ago, a faculty colleague came into my admissions office and told me that I worked in sales.
I gave him the same quizzical look normally reserved for my British friends when I explain how the American staple of peanut butter and jelly goes together like, well, peanut butter and jelly.
According to psychological biases, human beings are more motivated by what they will lose rather than what they would gain.
Loss aversion is shown to be “far more painful than gaining something advantageous is pleasing”.
(Check out Daniel Kahneman’s study with mugs and chocolate for more insight on loss aversion theory.)
So why are we showing examples of what prospective students will gain from business school rather than how they would avoid a loss?