loss aversion theory

Just pulled out this little factoid from an article concerning the NHS-bashing of American right-wingers:

Ariely and Carmon present this finding as corroboration of what is known as the endowment effect. Once someone owns something, once it is theirs, they value it more. This is closely allied to another effect beloved of behavioural economists — loss aversion. People much prefer avoiding losses to making gains.

It has no real purpose or impact on my day-to-day life, but I found it interesting, all the same.