The Psychology of Risk Management<\/title>\n <script src=\"https:\/\/cdn.tailwindcss.com\"><\/script>\n <script src=\"https:\/\/cdn.jsdelivr.net\/npm\/chart.js@4.4.2\/dist\/chart.umd.min.js\"><\/script>\n <link href=\"https:\/\/fonts.googleapis.com\/css2?family=Inter:wght@400;600;700&display=swap\" rel=\"stylesheet\">\n \n \n \n \n <style>\n body {\n font-family: 'Inter', sans-serif;\n background-color: #F8F9FA;\n color: #343A40;\n }\n .chart-container {\n position: relative;\n width: 100%;\n max-width: 600px;\n margin-left: auto;\n margin-right: auto;\n height: 300px;\n max-height: 400px;\n }\n @media (min-width: 768px) {\n .chart-container {\n height: 350px;\n }\n }\n .flow-item {\n background-color: white;\n border: 2px solid #00449E;\n color: #00449E;\n padding: 0.75rem 1.25rem;\n border-radius: 9999px;\n font-weight: 600;\n text-align: center;\n box-shadow: 0 4px 6px -1px rgba(0, 0, 0, 0.1), 0 2px 4px -1px rgba(0, 0, 0, 0.06);\n flex: 1 1 150px;\n }\n .flow-arrow {\n font-size: 2.5rem;\n line-height: 1;\n color: #FF6B6B;\n font-weight: 700;\n display: flex;\n align-items: center;\n justify-content: center;\n margin: 0.5rem;\n }\n .pyramid-level {\n width: 100%;\n padding: 1rem;\n text-align: center;\n font-weight: 600;\n clip-path: polygon(10% 0, 90% 0, 100% 100%, 0% 100%);\n }\n @media (min-width: 640px) {\n .pyramid-level {\n clip-path: polygon(20% 0, 80% 0, 100% 100%, 0% 100%);\n }\n }\n <\/style>\n<\/head>\n<body class=\"antialiased\">\n\n <div class=\"container mx-auto p-4 py-8 md:p-12\">\n\n <header class=\"text-center mb-12\">\n <p class=\"text-4xl md:text-5xl font-bold text-transparent bg-clip-text bg-gradient-to-r from-[#00449E] to-[#FF6B6B] mb-4\">The Psychology of Risk<\/p>\n <p class=\"text-xl text-gray-700 max-w-3xl mx-auto\">Why mastering your mind is the key to mastering the market.<\/p>\n <\/header>\n\n <main class=\"grid grid-cols-1 md:grid-cols-2 gap-6 md:gap-8\">\n\n <section class=\"md:col-span-2 bg-white rounded-lg shadow-xl p-6 md:p-8 border-t-8 border-[#00449E]\">\n <h2 class=\"text-3xl font-bold text-[#00449E] mb-4\">The Fallacy of the ‘Rational Investor’<\/h2>\n <p class=\"text-lg text-gray-700 mb-4\">\n For decades, economic theory was built on the idea of *Homo economicus*\u2014a perfectly rational person who makes logical decisions to maximize utility. But if this were true, why do market bubbles and panics exist? Why do we buy high in a wave of euphoria and sell low in a fit of panic?\n <\/p>\n <div class=\"text-center bg-gray-100 rounded-lg p-6\">\n <span class=\"text-8xl\" role=\"img\" aria-label=\"brain\">\ud83e\udde0<\/span>\n <p class=\"text-2xl font-bold text-[#00449E] mt-4\">\n Risk is not just a spreadsheet; it’s a state of mind.\n <\/p>\n <p class=\"text-md text-gray-600 mt-2\">Our management of risk doesn’t just depend on math. It depends on how we *feel* the probability of an outcome.<\/p>\n <\/div>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">Bias 1: Loss Aversion<\/h2>\n <p class=\"text-gray-700 mb-6\">\n First described by Daniel Kahneman and Amos Tversky, this is our most destructive bias. The psychological pain of a loss is approximately **twice as powerful** as the pleasure from an equivalent gain. This leads us to make irrational choices to avoid “feeling” a loss.\n <\/p>\n <div class=\"chart-container\" style=\"height: 300px; max-height: 300px;\">\n <canvas id=\"lossAversionChart\"><\/canvas>\n <\/div>\n <p class=\"text-center text-gray-600 italic mt-4\">\n **Takeaway:** This bias explains why we hold losing stocks too long (avoiding the pain of admitting loss) and sell winners too early (securing the pleasure of a gain).\n <\/p>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">Bias 2: Overconfidence<\/h2>\n <p class=\"text-gray-700 mb-6\">\n Do you believe your investment skills are above average? You’re not alone. Studies show a vast majority of people believe this, which leads to taking oversized positions, insufficient diversification, and overestimating the accuracy of our own predictions.\n <\/p>\n <div class=\"chart-container\" style=\"height: 300px; max-height: 300px;\">\n <canvas id=\"overconfidenceChart\"><\/canvas>\n <\/div>\n <p class=\"text-center text-gray-600 italic mt-4\">\n **Takeaway:** This “echo chamber” effect is compounded by Confirmation Bias, where we only seek out information that supports our existing beliefs.\n <\/p>\n <\/section>\n\n <section class=\"md:col-span-2 bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-3xl font-bold text-[#00449E] text-center mb-6\">The Emotional Pulse of the Market<\/h2>\n <p class=\"text-lg text-gray-700 max-w-3xl mx-auto text-center mb-8\">\n Market cycles are simply human emotion cycles played out on a massive scale. The professional investor’s greatest asset isn’t capital; it’s their ability to remain disciplined when everyone else is losing their cool. This is the typical emotional flow.\n <\/p>\n \n <div class=\"flex flex-wrap items-center justify-center gap-y-4\">\n <div class=\"flow-item\">Skepticism<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2192<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2193<\/div>\n <div class=\"flow-item\">Hope<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2192<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2193<\/div>\n <div class=\"flow-item\">Optimism<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2192<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2193<\/div>\n <div class=\"flow-item\" style=\"border-color: #06D6A0; color: #06D6A0;\">Euphoria<\/div>\n \n <div class=\"w-full flow-arrow flex justify-center text-center\">\u2193<\/div>\n\n <div class=\"flow-item\" style=\"border-color: #FF6B6B; color: #FF6B6B;\">Panic<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2190<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2191<\/div>\n <div class=\"flow-item\">Fear<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2190<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2191<\/div>\n <div class=\"flow-item\">Denial<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2190<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2191<\/div>\n <div class=\"flow-item\">Anxiety<\/div>\n <\/div>\n <p class=\"text-center text-gray-600 italic mt-8 max-w-2xl mx-auto\">\n **Takeaway:** Herd Mentality drives us to buy at the peak of Euphoria (FOMO) and sell at the bottom of Panic. The only antidote is emotional discipline.\n <\/p>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">The Solution: A Written Plan<\/h2>\n <p class=\"text-gray-700 mb-6\">\n Effective risk management is 90% psychology. The best financial decision is the one you made when you were calm. A written investment plan is an **emotional contract with yourself** that defines your goals, time horizon, and exit rules *before* a crisis hits.\n <\/p>\n <div class=\"bg-gray-100 border-l-4 border-[#06D6A0] p-4 rounded-lg\">\n <p class=\"font-semibold text-gray-800\">Your Cognitive Anchor<\/p>\n <p class=\"text-gray-700\">When your brain screams “SELL!”, your plan provides the logic. It acts as an anchor, preventing your emotions from capsizing your portfolio. This plan includes your “Mental Stop-Loss”\u2014the unbreakable limit you set when you were logical.<\/p>\n <\/div>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">The Solution: Diversification<\/h2>\n <p class=\"text-gray-700 mb-6\">\n Trustworthiness in your portfolio is built on a solid, diversified structure. This is the practical application of the “Sleep at Night Test.” If a 10% drop keeps you awake, you are not diversified correctly for your *actual* risk tolerance.\n <\/p>\n <div class=\"w-full max-w-xs mx-auto flex flex-col items-center\">\n <div class=\"pyramid-level\" style=\"background-color: #FF6B6B; width: 50%; color: white; clip-path: polygon(30% 0, 70% 0, 100% 100%, 0% 100%);\">\n Risk Capital (10% Rule)\n <\/div>\n <div class=\"pyramid-level\" style=\"background-color: #FFD166; width: 80%; color: #343A40;\">\n ETFs \/ Index Funds\n <\/div>\n <div class=\"pyramid-level\" style=\"background-color: #00449E; width: 100%; color: white;\">\n Bonds \/ Real Estate\n <\/div>\n <\/div>\n <\/section>\n\n <section class=\"md:col-span-2 bg-[#00449E] text-white rounded-lg shadow-xl p-6 md:p-8\">\n <h2 class=\"text-3xl font-bold text-center mb-6\">Your Path to Becoming a Better Investor<\/h2>\n <ul class=\"space-y-4 text-lg\">\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Acknowledge Biases:** Accept that Loss Aversion and Overconfidence are part of your “wiring.”<\/span>\n <\/li>\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Defeat the Herd:** Act with discipline. When others panic, consult your plan. When others are euphoric, be cautious.<\/span>\n <\/li>\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Write It Down:** A written plan is your most powerful tool. It is your logical self, protecting you from your emotional self.<\/span>\n <\/li>\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Diversify for Sleep:** Build a portfolio that lets you sleep at night. 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The Fallacy of the ‘Rational … <a title=\"infographic-The Human Factor and Money: How Psychology Governs Financial Risk Management\" class=\"read-more\" href=\"https:\/\/todaydollar.com\/en\/infographic-the-human-factor-and-money-how-psychology-governs-financial-risk-management\/\" aria-label=\"Read more about infographic-The Human Factor and Money: How Psychology Governs Financial Risk Management\">Leer Mas<\/a><\/p>\n","protected":false},"author":1,"featured_media":5158,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76],"tags":[],"class_list":["post-5157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","resize-featured-image"],"yoast_head":"\n<title>MANAGEMENT: The key to the psychology of risk - Today Dollar<\/title>\n<meta name=\"description\" content=\"Discover how management is key in market decision-making and risk management from a 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{"id":5157,"date":"2025-11-03T13:48:47","date_gmt":"2025-11-03T18:48:47","guid":{"rendered":"https:\/\/todaydollar.com\/?p=5157"},"modified":"2025-11-03T15:10:11","modified_gmt":"2025-11-03T20:10:11","slug":"infographic-the-human-factor-and-money-how-psychology-governs-financial-risk-management","status":"publish","type":"post","link":"https:\/\/todaydollar.com\/en\/infographic-the-human-factor-and-money-how-psychology-governs-financial-risk-management\/","title":{"rendered":"infographic-The Human Factor and Money: How Psychology Governs Financial Risk Management"},"content":{"rendered":"\n\n\n\n \n \n The Psychology of Risk Management<\/title>\n <script src=\"https:\/\/cdn.tailwindcss.com\"><\/script>\n <script src=\"https:\/\/cdn.jsdelivr.net\/npm\/chart.js@4.4.2\/dist\/chart.umd.min.js\"><\/script>\n <link href=\"https:\/\/fonts.googleapis.com\/css2?family=Inter:wght@400;600;700&display=swap\" rel=\"stylesheet\">\n \n \n \n \n <style>\n body {\n font-family: 'Inter', sans-serif;\n background-color: #F8F9FA;\n color: #343A40;\n }\n .chart-container {\n position: relative;\n width: 100%;\n max-width: 600px;\n margin-left: auto;\n margin-right: auto;\n height: 300px;\n max-height: 400px;\n }\n @media (min-width: 768px) {\n .chart-container {\n height: 350px;\n }\n }\n .flow-item {\n background-color: white;\n border: 2px solid #00449E;\n color: #00449E;\n padding: 0.75rem 1.25rem;\n border-radius: 9999px;\n font-weight: 600;\n text-align: center;\n box-shadow: 0 4px 6px -1px rgba(0, 0, 0, 0.1), 0 2px 4px -1px rgba(0, 0, 0, 0.06);\n flex: 1 1 150px;\n }\n .flow-arrow {\n font-size: 2.5rem;\n line-height: 1;\n color: #FF6B6B;\n font-weight: 700;\n display: flex;\n align-items: center;\n justify-content: center;\n margin: 0.5rem;\n }\n .pyramid-level {\n width: 100%;\n padding: 1rem;\n text-align: center;\n font-weight: 600;\n clip-path: polygon(10% 0, 90% 0, 100% 100%, 0% 100%);\n }\n @media (min-width: 640px) {\n .pyramid-level {\n clip-path: polygon(20% 0, 80% 0, 100% 100%, 0% 100%);\n }\n }\n <\/style>\n<\/head>\n<body class=\"antialiased\">\n\n <div class=\"container mx-auto p-4 py-8 md:p-12\">\n\n <header class=\"text-center mb-12\">\n <p class=\"text-4xl md:text-5xl font-bold text-transparent bg-clip-text bg-gradient-to-r from-[#00449E] to-[#FF6B6B] mb-4\">The Psychology of Risk<\/p>\n <p class=\"text-xl text-gray-700 max-w-3xl mx-auto\">Why mastering your mind is the key to mastering the market.<\/p>\n <\/header>\n\n <main class=\"grid grid-cols-1 md:grid-cols-2 gap-6 md:gap-8\">\n\n <section class=\"md:col-span-2 bg-white rounded-lg shadow-xl p-6 md:p-8 border-t-8 border-[#00449E]\">\n <h2 class=\"text-3xl font-bold text-[#00449E] mb-4\">The Fallacy of the ‘Rational Investor’<\/h2>\n <p class=\"text-lg text-gray-700 mb-4\">\n For decades, economic theory was built on the idea of *Homo economicus*\u2014a perfectly rational person who makes logical decisions to maximize utility. But if this were true, why do market bubbles and panics exist? Why do we buy high in a wave of euphoria and sell low in a fit of panic?\n <\/p>\n <div class=\"text-center bg-gray-100 rounded-lg p-6\">\n <span class=\"text-8xl\" role=\"img\" aria-label=\"brain\">\ud83e\udde0<\/span>\n <p class=\"text-2xl font-bold text-[#00449E] mt-4\">\n Risk is not just a spreadsheet; it’s a state of mind.\n <\/p>\n <p class=\"text-md text-gray-600 mt-2\">Our management of risk doesn’t just depend on math. It depends on how we *feel* the probability of an outcome.<\/p>\n <\/div>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">Bias 1: Loss Aversion<\/h2>\n <p class=\"text-gray-700 mb-6\">\n First described by Daniel Kahneman and Amos Tversky, this is our most destructive bias. The psychological pain of a loss is approximately **twice as powerful** as the pleasure from an equivalent gain. This leads us to make irrational choices to avoid “feeling” a loss.\n <\/p>\n <div class=\"chart-container\" style=\"height: 300px; max-height: 300px;\">\n <canvas id=\"lossAversionChart\"><\/canvas>\n <\/div>\n <p class=\"text-center text-gray-600 italic mt-4\">\n **Takeaway:** This bias explains why we hold losing stocks too long (avoiding the pain of admitting loss) and sell winners too early (securing the pleasure of a gain).\n <\/p>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">Bias 2: Overconfidence<\/h2>\n <p class=\"text-gray-700 mb-6\">\n Do you believe your investment skills are above average? You’re not alone. Studies show a vast majority of people believe this, which leads to taking oversized positions, insufficient diversification, and overestimating the accuracy of our own predictions.\n <\/p>\n <div class=\"chart-container\" style=\"height: 300px; max-height: 300px;\">\n <canvas id=\"overconfidenceChart\"><\/canvas>\n <\/div>\n <p class=\"text-center text-gray-600 italic mt-4\">\n **Takeaway:** This “echo chamber” effect is compounded by Confirmation Bias, where we only seek out information that supports our existing beliefs.\n <\/p>\n <\/section>\n\n <section class=\"md:col-span-2 bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-3xl font-bold text-[#00449E] text-center mb-6\">The Emotional Pulse of the Market<\/h2>\n <p class=\"text-lg text-gray-700 max-w-3xl mx-auto text-center mb-8\">\n Market cycles are simply human emotion cycles played out on a massive scale. The professional investor’s greatest asset isn’t capital; it’s their ability to remain disciplined when everyone else is losing their cool. This is the typical emotional flow.\n <\/p>\n \n <div class=\"flex flex-wrap items-center justify-center gap-y-4\">\n <div class=\"flow-item\">Skepticism<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2192<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2193<\/div>\n <div class=\"flow-item\">Hope<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2192<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2193<\/div>\n <div class=\"flow-item\">Optimism<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2192<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2193<\/div>\n <div class=\"flow-item\" style=\"border-color: #06D6A0; color: #06D6A0;\">Euphoria<\/div>\n \n <div class=\"w-full flow-arrow flex justify-center text-center\">\u2193<\/div>\n\n <div class=\"flow-item\" style=\"border-color: #FF6B6B; color: #FF6B6B;\">Panic<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2190<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2191<\/div>\n <div class=\"flow-item\">Fear<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2190<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2191<\/div>\n <div class=\"flow-item\">Denial<\/div>\n <div class=\"flow-arrow hidden sm:flex\">\u2190<\/div>\n <div class=\"flow-arrow flex sm:hidden\">\u2191<\/div>\n <div class=\"flow-item\">Anxiety<\/div>\n <\/div>\n <p class=\"text-center text-gray-600 italic mt-8 max-w-2xl mx-auto\">\n **Takeaway:** Herd Mentality drives us to buy at the peak of Euphoria (FOMO) and sell at the bottom of Panic. The only antidote is emotional discipline.\n <\/p>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">The Solution: A Written Plan<\/h2>\n <p class=\"text-gray-700 mb-6\">\n Effective risk management is 90% psychology. The best financial decision is the one you made when you were calm. A written investment plan is an **emotional contract with yourself** that defines your goals, time horizon, and exit rules *before* a crisis hits.\n <\/p>\n <div class=\"bg-gray-100 border-l-4 border-[#06D6A0] p-4 rounded-lg\">\n <p class=\"font-semibold text-gray-800\">Your Cognitive Anchor<\/p>\n <p class=\"text-gray-700\">When your brain screams “SELL!”, your plan provides the logic. It acts as an anchor, preventing your emotions from capsizing your portfolio. This plan includes your “Mental Stop-Loss”\u2014the unbreakable limit you set when you were logical.<\/p>\n <\/div>\n <\/section>\n\n <section class=\"bg-white rounded-lg shadow-lg p-6 md:p-8\">\n <h2 class=\"text-2xl font-bold text-[#00449E] mb-4\">The Solution: Diversification<\/h2>\n <p class=\"text-gray-700 mb-6\">\n Trustworthiness in your portfolio is built on a solid, diversified structure. This is the practical application of the “Sleep at Night Test.” If a 10% drop keeps you awake, you are not diversified correctly for your *actual* risk tolerance.\n <\/p>\n <div class=\"w-full max-w-xs mx-auto flex flex-col items-center\">\n <div class=\"pyramid-level\" style=\"background-color: #FF6B6B; width: 50%; color: white; clip-path: polygon(30% 0, 70% 0, 100% 100%, 0% 100%);\">\n Risk Capital (10% Rule)\n <\/div>\n <div class=\"pyramid-level\" style=\"background-color: #FFD166; width: 80%; color: #343A40;\">\n ETFs \/ Index Funds\n <\/div>\n <div class=\"pyramid-level\" style=\"background-color: #00449E; width: 100%; color: white;\">\n Bonds \/ Real Estate\n <\/div>\n <\/div>\n <\/section>\n\n <section class=\"md:col-span-2 bg-[#00449E] text-white rounded-lg shadow-xl p-6 md:p-8\">\n <h2 class=\"text-3xl font-bold text-center mb-6\">Your Path to Becoming a Better Investor<\/h2>\n <ul class=\"space-y-4 text-lg\">\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Acknowledge Biases:** Accept that Loss Aversion and Overconfidence are part of your “wiring.”<\/span>\n <\/li>\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Defeat the Herd:** Act with discipline. When others panic, consult your plan. When others are euphoric, be cautious.<\/span>\n <\/li>\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Write It Down:** A written plan is your most powerful tool. It is your logical self, protecting you from your emotional self.<\/span>\n <\/li>\n <li class=\"flex items-start\">\n <span class=\"text-[#06D6A0] font-bold mr-3\">\u2714<\/span>\n <span>**Diversify for Sleep:** Build a portfolio that lets you sleep at night. That is your true risk tolerance.<\/span>\n <\/li>\n <\/ul>\n <\/section>\n\n <\/main>\n <\/div>\n\n <script>\n document.addEventListener('DOMContentLoaded', () => {\n \n const tooltipTitleCallback = (tooltipItems) => {\n const item = tooltipItems[0];\n let label = item.chart.data.labels[item.dataIndex];\n if (Array.isArray(label)) {\n return label.join(' ');\n } else {\n return label;\n }\n };\n\n const commonTooltipOptions = {\n plugins: {\n tooltip: {\n callbacks: {\n title: tooltipTitleCallback\n },\n backgroundColor: '#343A40',\n titleFont: { size: 14, weight: 'bold' },\n bodyFont: { size: 12 },\n padding: 10,\n cornerRadius: 4,\n displayColors: false\n },\n legend: {\n labels: {\n font: {\n family: 'Inter',\n size: 12\n },\n color: '#343A40'\n }\n }\n }\n };\n\n const commonAxisOptions = {\n ticks: {\n font: {\n family: 'Inter',\n size: 12\n },\n color: '#343A40'\n },\n grid: {\n display: false\n }\n };\n\n const lossAversionCtx = document.getElementById('lossAversionChart').getContext('2d');\n new Chart(lossAversionCtx, {\n type: 'bar',\n data: {\n labels: [\n ['Pleasure of', '+$1,000'],\n ['Pain of', '-$1,000']\n ],\n datasets: [{\n label: 'Psychological Impact',\n data: [100, 200],\n backgroundColor: [\n '#06D6A0',\n '#FF6B6B'\n ],\n borderRadius: 4\n }]\n },\n options: {\n responsive: true,\n maintainAspectRatio: false,\n ...commonTooltipOptions,\n scales: {\n x: commonAxisOptions,\n y: {\n ...commonAxisOptions,\n beginAtZero: true,\n grid: {\n display: true,\n color: '#E0E0E0',\n drawBorder: false\n },\n ticks: {\n ...commonAxisOptions.ticks,\n callback: function(value) {\n return value === 100 ? 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