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Why Do People Choke When the Stakes Are High? Loss Aversion May Be the Culprit

These findings reminds me of quote from David Foster Wallace's 'Infinite Jest': "The true opponent, the enfolding boundary, is the player himself. Always and only the self out there, on court, to be met, fought, brought to the table to hammer out terms. The competing boy on the net's other side: he is not the foe: he is more the partner in the dance."

In sports, on a game show, or just on the job, what causes people to choke when the stakes are high? A new study by researchers at the California Institute of Technology (Caltech) suggests that when there are high financial incentives to succeed, people can become so afraid of losing their potentially lucrative reward that their performance suffers.

It is a somewhat unexpected conclusion. After all, you would think that the more people are paid, the harder they will work, and the better they will do their jobs -- until they reach the limits of their skills. That notion tends to hold true when the stakes are low, says Vikram Chib, a postdoctoral scholar at Caltech and lead author on a paper published in the May 10 issue of the journal Neuron. Previous research, however, has shown that if you pay people too much, their performance actually declines.
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I feel like I should go back and read Infinite Jest again, but as good as it was, it was also almost impossible to get through the first time.
 
One of the other students in the class compared the reading of the novel to a drug addiction. I thought it was pretty apt.
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