I’ve previously shared a fair amount about the concept of loss-aversion (see The Best Posts On “Loss Aversion” & Schools), and they’ve primarily been critical “takes.”
Loss aversion is basically the idea that we can get more motivated by the potential of losing something more than by the prospect of gaining something.
This new video, though, makes some interesting points about relating it to goal-setting – when we set goals, at least consider what we might lose by not achieving our goals, as well as what we might gain from it.
On a related note, I was just having a conversation with our principal where we told me he was thinking about beginning a conversation on changing our school’s long-standing policy on work permits, which I’m sure is similar to most other schools. Right now, you need to have a 2.0 GPA to get a work permit. Instead, the idea he’s considering (again, it’s just in the idea stage) is to give work permits to any student, with the understanding that it could be taken away if he/she does not build it up to a 2.0. There would be steps along the way, including conversations with the employer, to support the student in those efforts. It seems to me that this could be a very positive policy change.
I’ll also be adding this video to Best Posts On Students Setting Goals.