QUOTE : People did not choose between things. They chose between descriptions of things. Economists, and anyone else who wanted to believe that human beings were rational, could rationalize, or try to rationalize, loss aversion. But how did you rationalize this? Economists assumed that you could simply measure what people wanted from what they chose. But what if what you want changes with the context in which the options are offered to you? “It was a funny point to make because the point within psychology would have been banal,” the psychologist Richard Nisbett later said. “Of course we are affected by how the decision is presented!