ChessPivot
Adult player at a tournament, arms folded over the board, hard stare

After the Loss

Why Losing Hurts So Much, and How to Recover
Florian Cordier
Contents

You have just lost three games in a row. You feel yourself getting dumber with every move, you know you should stop, and you queue up again. That scene is the most told story in chess, and the least studied.

Around it swirl dozens of contradictory tips: stop after two losses, no, after three, review immediately, never review while angry, forget your rating, no, face it head on. Almost none has ever been measured on chess players. Some have been measured elsewhere — in competition, at the poker table, in the laboratory — and a few then turn out to be plainly harmful.

This article keeps only what rests on data, including our own measurements across one hundred and twelve thousand games. You will find what actually happens in your body and in your play after a defeat, what helps, what makes it worse, and what nobody knows yet.

The essentials

If you read only one block of this article, read this one.

What defeat does to your body

Let us start with the least debatable part. A game of chess is a physiological stressor, and it can be measured. Twenty players wired up during a game see their heart rate climb from 75 to 86 beats per minute (Troubat et al., 2009), with a clear shift of the nervous system into alert mode. Seated, motionless, without the slightest muscular effort.

Cortisol, the stress hormone, follows a surprising logic. In a nine-round tournament tracked across fourteen adolescent players (Mashayekhi Dovom et al., 2024), it was the winners who showed the most of it, not the losers. What defeat raises is not the stress hormone: it is anger and tension, measured by questionnaire after the hard rounds, while felt energy collapses.

Why does a game trigger such a reaction? A synthesis of two hundred and eight laboratory experiments (Dickerson and Kemeny, 2004) identified the two ingredients that drive cortisol up: a task you do not control, and other people watching the outcome. Situations that combine both produce the strongest responses and the slowest returns to baseline. A rated game against an opponent whose moves you cannot control ticks exactly those two boxes.

Why it hurts so much

The pain of a defeat does not come only from the game you lost. It comes mostly from four beliefs, and all four have been measured.

Four beliefs, and what measurement says about them
"My rating says what I am worth"It exists first to pair you up. Approaching a personal best you push, and the moment it falls you stop playing: the probability of stopping rises by a fifth.133 million games
"I lost to someone weaker than me, again"Tournament players credit themselves with 89 points too many. The opponent you think is weaker is usually your equal.3,388 rated players
"If I lose, it means I am not smart enough"The correlation between cognitive ability and chess strength is 0.24 overall, but falls to 0.11 among adults and 0.14 among rated players.19 studies
"I blundered, so I played badly"Position difficulty predicts error better than the player’s strength does. And rapid time controls add a third more blunders, even for grandmasters.23 grandmasters

Your rating manipulates you

Across one hundred and thirty-three million online games (Anderson and Green, 2018), two researchers watched what happens around a personal best. Approaching that record, players score about one percentage point more than usual: they concentrate. And as soon as they have beaten it, their probability of stopping play rises by four and a half points, a jump of one fifth.

The record acts as an invisible finish line: you push to reach it, you drop off the moment you cross it. So a good part of the pain of a defeat is not the defeat itself, it is the gap with a number you chose as your reference.

You believe you are better than you are

Three thousand three hundred and eighty-eight tournament players, aged five to eighty-eight, across twenty-two countries, with nineteen years of practice on average, were asked about their true strength. They credit themselves with eighty-nine ELO points more than their actual rating (Heck et al., 2025): enough to expect a two-to-one win against an opponent who is, in fact, their equal. A year later, only one player in nine had reached the level they had claimed.

Part of the suffering therefore comes from faulty accounting: you lose to someone of your own strength while believing you lost to someone weaker. One reassuring detail, the highest-rated players judge themselves accurately.

Losing says nothing about your intelligence

This is the most painful and most widespread belief. It has been measured. A synthesis of nineteen studies and one thousand seven hundred and seventy-nine participants finds an average correlation of 0.24 (Burgoyne et al., 2016) between cognitive ability and chess strength, which is modest. Above all, it collapses exactly where the question matters: it falls to 0.11 among adults and to 0.14 among rated players.

A blunder is an accident, not a verdict

In other words, between two adult club players, the gap in intelligence explains almost nothing of the gap in strength. Nor do your blunders say anything about you: across millions of moves compared with a perfectly solved endgame database, what best predicts an error is the difficulty of the position (Anderson et al., 2017), ahead of the player’s strength and the time available. And the clock weighs more than pride would like, since twenty-three grandmasters commit a third more blunders at rapid than at classical time controls (Chabris and Hearst, 2003).

More unsettling still: as the time control tightens, the gap in strength predicts the outcome less and less well (van Harreveld et al., 2007). Time pressure does not punish the weak, it erodes the strong player’s edge.

Does tilt really exist?

A word first, because it circulates everywhere without a definition. Tilt is borrowed from pinball: shake the machine too hard and the TILT light comes on, locking the game. Poker took it up to name the state where you keep playing after you have stopped playing well, then video games did, then chess.

The only measured definition comes from a questionnaire validated with esports players (Bonilla et al., 2024): a frustration born of repeated mistakes, which escalates into anger, drops attention and installs thoughts that keep returning to the error, for a duration players themselves put at around thirty minutes. The sequence itself was first described in poker (Palomäki et al., 2013): disbelief, then a sense of unfairness, then chasing.

The word is everywhere; the thing resists measurement. The broadest available study covers one hundred and twenty-three million games and close to a million players (Chowdhary et al., 2023). It finds real streaks, longer among weaker players than among experts, and losing streaks typically longer than winning ones.

The effect of a defeat on the next game, however, is close to zero. A Bayesian analysis of nearly nine hundred thousand bullet and blitz games, across one hundred and twenty ordinary players and twenty-five grandmasters, reports individual effects ranging from two percentage points below to three above, with an overall effect centred on zero (Gee et al., 2025).

We redid the measurement ourselves, since no study of tilt in online chess has been published as far as we know. On one side, three hundred and seventy-eight players and their last one hundred and twelve thousand five hundred and thirty-eight rated games, in bullet, blitz and rapid. After a defeat, the gap with the result predicted by the rating widens by about one percentage point: one game in a hundred. It widens no further after two defeats, nor after four, nor after two hours of continuous play. On the other, forty-six thousand one hundred and seventy-four engine-analysed games: move accuracy, for its part, does not drop detectably, and the blunder rate moves from 4.83 to 4.94 per cent.

What a defeat changes in the next game’s result
112,538 games · gap with the result predicted by the rating · bars = 95 % interval
Start of session-0,49 ptAfter a win1,06 ptAfter 1 defeat0,04 ptAfter 2 defeats-0,15 ptAfter 3 defeats-1,7 ptAfter 4 defeats or more-0,4 ptAfter 2 hours of continuous play0,24 pt-3,5 pt2 pt
Each point is the average gap between the result obtained and the one the rating predicted, in percentage points. Only one bar does not cross zero: the one that follows a win. ChessPivot measurement on public Lichess data, September 2026.

Your losing streaks are the ones chance produces

For each player, we shuffled the order of their own results two hundred times, then compared their real streaks with the ones chance produces. The result is clear: 16.8 streaks of three defeats per player in reality, against 16.9 expected by chance, and a longest streak of 7.3 games against 7.5.

What makes a losing streak memorable is not that it is abnormal: it is that you live through it. One caution applies to every streak, by the way. If you look only at the games that follow three defeats, the very way you select them tilts the count, and an effect appears that is not there. That statistical trap was enough to reverse the conclusions of the founding study on the hot hand in basketball (Miller and Sanjurjo, 2018).

What really changes: your behaviour

If your strength barely moves after a defeat, the way you play moves a great deal — and it can be measured on the clocks.

First, you stop more often than you think. Keeping only ordinary queue games, the ones where the player genuinely decides whether to play again, the probability of playing on falls from 74.6 per cent after a win to 64.6 after a loss. The gap holds at every point of a session, from the first game to the tenth. The story of the player who cannot stop describes a minority, not the rule.

Second, and this is the clearest signal, you start your games faster. Measuring the time invested on moves four to fifteen, that is before the game turns, and comparing it with the player’s own habits, that time shrinks as the streak grows: slightly above normal with no streak running, a tenth of a standard deviation below after three straight defeats.

Probability of playing one more game
free play, 30,899 games · by the game’s rank in the session
after a winafter a defeat
1st game62,7 %55,3 %2nd and 3rd73,2 %60,9 %4th and beyond84,4 %75 %50 %90 %
At every point of a session, players continue less often after a defeat than after a win: 64.6 % against 74.6 % overall. Online tournament games are excluded, since pairing there is automatic.

And that quick start announces a worse result

The time you invest at the start predicts what follows. When players give their first moves clearly more time than usual, they score 55.1 per cent of the available points; when they give them clearly less, they score 41.5.

Time invested in the first ten moves
the player’s moves 4 to 15, compared with their own habits · 106,275 games
Clearly more than usual10,56755.1 %
Slightly more31,01753.8 %
As usual36,94650.7 %
Slightly less14,03347.7 %
Clearly less than usual13,71241.5 %
The measurement stops at the fifteenth half-move, before the game turns: it therefore cannot be explained by "I play fast because I am already lost".

A marker, not a recipe

Mind what that means. It is not a recipe: nothing shows that forcing yourself to think longer would win you more games. It is a marker of your state, and it appears well before the result suffers. The drift observed after a streak is in fact too small to move the score visibly, which reconciles the two findings instead of setting them against each other.

The break that counts

This is the most frequently given advice and, for once, it is supported, provided you are precise about the duration and about what you do with it.

Across every pupil in the Danish public system, each extra hour spent working during the day costs a little under one per cent of a standard deviation of performance. But a break of twenty to thirty minutes gives back nearly twice that (Sievertsen et al., 2016). A well-placed break therefore returns more than two hours of the day had cost.

The duration is not a detail. A synthesis of twenty-two samples and two thousand three hundred and thirty-five participants (Albulescu et al., 2022) shows that micro-breaks restore felt energy and reduce fatigue, but not performance. The longer the break, the more real the gain becomes, and the authors conclude that recovering from a mentally demanding task takes more than ten minutes.

How long, exactly

Three studies answer together, and they do not contradict one another: they describe three different regimes. Under ten minutes, you recover a feeling of energy without recovering performance. At twenty or thirty minutes, performance genuinely returns. And a break spent ruminating does not count as a break at all.

What a break restores, depending on its length
three studies that complete one another: (Albulescu et al., 2022) · (Sievertsen et al., 2016) · (Ottaviani et al., 2016)
Under ten minutesFelt energy and fatigue, but not performance22 samples
Twenty to thirty minutesPerformance itself, by nearly twice what an hour of work costsevery pupil in the Danish public system
Spent ruminatingNothing: cortisol, heart rate and blood pressure stay high, you never left the table60 studies

What works

Almost none of these techniques has been tested on chess players. All of them have been tested, in controlled trials, on people who decide under pressure and absorb failures. This is a reasoned transposition, not chess-specific proof.

What works, and on what evidence
Writing your stopping rule before you sit downAn "if… then" plan works where a mere good intention does nothing measurableSolid
Breathing slowlyLarge effect on stress and anxiety, one of the most solid in the literatureSolid
Stepping back, looking at yourself from outsideFirst strategy in the ranking, ahead of reinterpreting the situation and brief distractionSolid
Talking to yourself by your first nameLess distress, less rumination, better performance as judged from outsideSolid
Sleeping before you analyseA sleepless night raises the brain’s response to negative images by 60 %Experimental
Naming a precise, changeable cause"I miscalculated that line" sustains hope; "I am useless" sustains resignationSolid
For a child: train the adultAfter a single session, dropout falls from 26 % to 5 % the next year, with identical sporting resultsControlled trials
Writing about your defeat with kindness, for a weekWith highly self-critical athletes, seven days of writing reduce self-criticism, rumination and worry about mistakesControlled trial

Deciding your rule before you sit down

This is the best documented and simplest lever. An intention framed as a plan, of the kind "if this situation arises, then I do this", produces a notable effect on goal achievement, measured across ninety-four trials and more than eight thousand participants (Gollwitzer and Sheeran, 2006). An experiment with electroencephalography (Schweiger Gallo et al., 2009) shows that the wording genuinely matters: faced with images that trigger disgust or fear, only the participants armed with such a plan reduce their reaction. Those who merely intended to stay calm do not manage it.

The reason the rule must be written in advance has also been measured: after a real loss, people depart markedly from the plan they had made (Andrade and Iyer, 2009) (Andrade and Iyer, 2009), because at planning time they underestimate the pull of their future emotions. In practice: "if I lose two games in a row, then I close the tab for half an hour", or "if I drop a piece, then I put my hands down, breathe out slowly four times, and list my opponent’s threats before looking for a move".

Breathing slowly, and stepping back

Slow-breathing training has been tested in twenty-four studies covering four hundred and eighty-four participants (Goessl et al., 2017), with a large effect on stress and anxiety. It is dull to hear, and it is one of the most solid effects in the whole literature.

As for handling the emotion itself, the largest available synthesis compared three hundred and six experiments (Webb et al., 2012) and produces an unambiguous ranking. Stepping back and looking at yourself from the outside comes first, reinterpreting the situation comes next, and brief distraction works too. Conversely, focusing on what you feel makes things worse, and pushing a thought out of your mind is mildly counterproductive.

One amusing variant, replicated seven times across five hundred and eighty-five participants (Kross et al., 2014) (Kross et al., 2014): talk to yourself by your first name, or in the second person, rather than saying "I". The distance this creates reduces distress, improves performance as judged by outside raters, and lowers rumination in the days that follow.

Sleeping before you analyse

A sleepless night raises the amplitude of the amygdala’s response to negative images by sixty per cent (Walker and van der Helm, 2009), and partly cuts the dialogue with the prefrontal cortex that moderates it. Rapid-eye-movement sleep, for its part, reprocesses recent emotional experiences and resets the system for the next day.

Analysing your defeat at two in the morning therefore means doing it with the brain least equipped to bear it. Analysis remains the heart of progress in chess: the problem is the moment you choose, not the analysis.

Explaining your defeat by a precise cause

The way you explain a failure determines the emotion that follows. The reference theory, verified for forty years (Weiner, 1985), distinguishes three dimensions: where the cause comes from, whether it lasts, and whether it is under your control. Durability drives hope or resignation, and control drives shame and guilt.

"I am useless" is an internal, lasting and uncontrollable cause: the worst of the three draws. "I miscalculated that line" is internal, temporary and controllable, and it is the only one of the two that you can work on (Le Foll et al., 2008).

For a child, that sentence is supplied by the adult, and this is the area where the evidence is strongest. After a single training session teaching them to answer mistakes and defeats with encouragement rather than punishment, eight coaches saw five per cent of their players quit the following year, against twenty-six per cent for ten untrained coaches (Barnett et al., 1992). The teams' win-loss records were identical.

What does not work

These practices are not merely ineffective: most of them have been measured and point the wrong way.

Venting, first. The experiment has become a classic: after a provocation, participants are assigned to punch a bag while thinking about what angered them, to distract themselves, or to do nothing at all. It is the venting group that ends up angriest and most aggressive (Bushman, 2002). Doing nothing at all was more effective than venting.

Bottling up, next. Trying to push a thought away is mildly counterproductive, and swallowing an emotion while showing nothing produces no effect at all on how you feel. In a randomised trial on two hundred and two people before a public talk, the instruction to suppress emotions actually raised heart rate more than reappraisal or acceptance did (Hofmann et al., 2009).

Rumination, finally, including under the name of analysis. Across two hundred and forty-one effect sizes drawn from one hundred and fourteen studies, rumination is the strategy most strongly tied to psychological disorders, ahead of avoidance and suppression (Aldao et al., 2010). It degrades problem solving and blocks action. Reopening the lost game with an engine, right away, while angry, ticks every one of its boxes.

What does not work, and what makes it worse
VentingThe group that punches a bag ends up angriest; doing nothing at all does betterMakes it worse
Bottling up, showing nothingZero or negative effect on how you feel, and heart rate climbs moreMakes it worse
Reopening the game with an engine, angryThat is rumination: it degrades problem solving and keeps the body activatedMakes it worse
Queueing again to win it backAfter a loss you depart from the plan you made, and anger makes you risk-seekingMakes it worse
The "just believe in yourself" postersTiny effect, and indistinguishable from zero in the highest-quality studiesNearly nil

Playing on to win it back

No study has measured this in chess, but the mechanism is established elsewhere and nothing suggests chess players escape it. After a loss, options that offer a chance to break even become abnormally attractive (Thaler and Johnson, 1990). You depart from the plan you had made. And anger makes you optimistic and risk-seeking at exactly the moment you should be less so (Lerner and Keltner, 2001): on that score, angry people resemble happy people more than anxious ones, which explains why you feel clear-headed while queueing again when you are not.

The "just believe in yourself" posters

The growth mindset is the most widespread piece of advice in education and sport. It has been tested seriously. In a synthesis covering forty-three interventions and more than fifty-seven thousand pupils, the effect is tiny (Sisk et al., 2018). In a more recent synthesis, the six studies of highest methodological quality give an effect indistinguishable from zero (Macnamara and Burgoyne, 2023).

That is no reason to tell a child they are useless. It is a reason not to believe that a slogan on a poster replaces a method.

And the "I stop after two losses" rule?

This is the most common advice between players, with thresholds that change from one answer to the next. We tested it on our own games, computing what each rule would have removed. The games a stopping rule would have erased are ordinary games, which the player was going to win at their usual rate. Stopping at the very first defeat would have removed a third of all games and cost about four rating points over three hundred games; stopping after two or after three defeats changes nothing either way.

Should the stopping rule be thrown out, then? No, but it needs the right justification. It does not protect your rating, since nothing threatens it. It protects your evening, your sleep and your enjoyment of the game, and it spares you a decision taken hot that you would not have taken cold.

What a stopping rule would have removed
applied after the fact to our 112,538 games
I stop after 1 defeat34 %+0.04 rating point−4 points
I stop after 2 defeats12 %−0.01+0.5 point
I stop after 3 defeats5 %−0.05+0.7 point
The games a stopping rule would have erased are ordinary games. No rule wins you rating, and the earliest one loses some — simply because it removes a third of the play.

What this changes for you

The most useful result in all of this is a relief: losing does not make you weaker. Neither your strength nor the quality of your moves drops perceptibly, and the losing streak you are living through is the one chance produces. What you feel is real — anger and tension do rise, measurably — but it does not translate into a collapse of your play.

What really changes is your behaviour, and that is where you have a grip. You start your games faster, you decide to continue or to stop under the pull of emotion, and you take decisions hot that you would not have taken cold. None of that requires talent to fix: it requires a rule written in advance, a real break, and a night’s sleep before opening the engine.

What is missing must be said too. No controlled trial of any losing-management method has ever been run on amateur chess players: the game’s whole interventional literature amounts to a few acceptance-therapy cases with elite players (Ruiz et al., 2023). Nobody has validated a tilt questionnaire for chess, and nobody had published a measurement of online tilt before the ones in this article. Everything you have just read is therefore either measured or transposed from a neighbouring field — and it is said each time.

In your games

Three moments, three moves. During the game, when it turns bad: apply the plan you wrote cold, hands down, four slow breaths, then the list of your opponent’s threats before hunting for a move. In the half hour after the defeat: a real break of twenty to thirty minutes, without reopening the game and without venting, then one precise, changeable sentence of explanation. The next day, cold: the analysis, in a bounded format, two things done well, one technical mistake, one thing to work on.

And one signal to watch, drawn from our measurements: if you rush your first ten moves faster than usual, you are probably not in your normal state. It is the earliest marker, well before the result suffers.

Going further: the studies cited

Every figure in this article points to the study that establishes it: the call in brackets in the text leads to the matching entry below. Links open the publisher’s page or, where one exists, the free full-text version. Our own measurements, as of September 2026, rest on one hundred and twelve thousand public Lichess games and on forty-six thousand games analysed by the ChessPivot engine.

Gee, Seese, Curley and Ward (2025). The effect of a defeat on the next game, across nearly nine hundred thousand Lichess games. Journal of Quantitative Analysis in Sports.Full text
Chowdhary, Iacopini and Battiston (2023). Hot and cold streaks across one hundred and twenty-three million games. Scientific Reports.Full text
Anderson and Green (2018). Personal bests as reference points, across one hundred and thirty-three million games. PNAS.Full text
Heck, Benjamin, Simons and Chabris (2025). Overconfidence among three thousand three hundred and eighty-eight tournament players. Psychological Science.Abstract
Burgoyne, Sala, Gobet, Macnamara, Campitelli and Hambrick (2016). Cognitive ability and chess skill, a synthesis of nineteen studies. Intelligence.Publisher record
Anderson, Kleinberg and Mullainathan (2017). What predicts human error, benchmarked against solved endgames. ACM TKDD.Full text
Chabris and Hearst (2003). Playing speed and blunders among twenty-three grandmasters. Cognitive Science.Publisher record
van Harreveld, Wagenmakers and van der Maas (2007). Time pressure erodes the stronger player’s edge. Psychological Research.Abstract
Troubat, Fargeas-Gluck, Tulppo and Dugué (2009). The chess player’s physiological response during a game. European Journal of Applied Physiology.Abstract
Mashayekhi Dovom et al. (2024). Salivary cortisol and mood in fourteen adolescent players over a nine-round tournament. Applied Psychophysiology and Biofeedback.Abstract
Dickerson and Kemeny (2004). What drives cortisol up, a synthesis of two hundred and eight experiments. Psychological Bulletin.Abstract
Bonilla, Chamarro, Birch et al. (2024). Conceptualisation and validation of the TILT questionnaire, with twenty-seven players then four hundred and eighty-eight participants. Frontiers in Psychology.Publisher record
Palomäki, Laakasuo and Salmela (2013). The tilt sequence as told by sixty poker players: disbelief, a sense of unfairness, then chasing. International Gambling Studies.Publisher record
Miller and Sanjurjo (2018). The bias that distorts every streak measurement, and the reversal of the hot-hand conclusion. Econometrica.Full text
Sievertsen, Gino and Piovesan (2016). The effect of a twenty-to-thirty-minute break on performance, across every pupil in the Danish public system. PNAS.Full text
Albulescu et al. (2022). Micro-breaks restore felt energy, not performance: twenty-two samples, two thousand three hundred and thirty-five participants. PLOS ONE.Publisher record
Ottaviani et al. (2016). Rumination keeps the body activated: a synthesis of sixty studies. Psychological Bulletin.Abstract
Webb, Miles and Sheeran (2012). Ranking emotion-regulation strategies across three hundred and six experiments. Psychological Bulletin.Abstract
Hofmann, Heering, Sawyer and Asnaani (2009). Suppressing emotions raises heart rate more than reappraisal or acceptance, across two hundred and two participants. Behaviour Research and Therapy.Full text
Aldao, Nolen-Hoeksema and Schweizer (2010). Rumination, the strategy most strongly tied to disorders, across two hundred and forty-one effect sizes. Clinical Psychology Review.Abstract
Bushman (2002). Venting increases anger and aggression; doing nothing does better. Personality and Social Psychology Bulletin.Publisher record
Gollwitzer and Sheeran (2006). Implementation intentions: a synthesis of ninety-four trials, eight thousand four hundred and sixty-one participants. Advances in Experimental Social Psychology.Publisher record
Schweiger Gallo, Keil, McCulloch, Rockstroh and Gollwitzer (2009). Only an "if, then" plan reduces the emotional response; a mere intention does not. Journal of Personality and Social Psychology.Publisher record
Goessl, Curtiss and Hofmann (2017). Slow-breathing training guided by heart-rate variability: twenty-four studies, four hundred and eighty-four participants. Psychological Medicine.Abstract
Kross et al. (2014). Talking to yourself by name reduces distress and rumination: seven studies, five hundred and eighty-five participants. Journal of Personality and Social Psychology.Abstract
Walker and van der Helm (2009). The role of sleep in emotional processing, and the amygdala’s response after deprivation. Psychological Bulletin.Full text
Weiner (1985). What the way you explain a failure determines: hope, resignation, shame, guilt. Psychological Review.Abstract
Le Foll, Rascle and Higgins (2008). Feedback attributing failure to an internal, controllable and unstable cause increases persistence. Psychology of Sport and Exercise.Publisher record
Mosewich, Crocker, Kowalski and DeLongis (2013). Seven days of self-compassionate writing with fifty-one self-critical athletes: a controlled trial. Journal of Sport & Exercise Psychology.Abstract
Barnett, Smoll and Smith (1992). Training the coach cuts children’s dropout from twenty-six to five per cent the following year. The Sport Psychologist.Publisher record
Sisk, Burgoyne, Sun, Butler and Macnamara (2018). The real effect of growth-mindset interventions, across forty-three trials and fifty-seven thousand pupils. Psychological Science.Abstract
Macnamara and Burgoyne (2023). In the six highest-quality studies, the growth-mindset effect is indistinguishable from zero. Psychological Bulletin.Abstract
Thaler and Johnson (1990). After a loss, options offering a chance to break even become especially attractive. Management Science.Publisher record
Andrade and Iyer (2009). After a real loss, people bet significantly more than they had planned. Journal of Marketing Research.Publisher record
Lerner and Keltner (2001). Anger makes you optimistic and risk-seeking; fear makes you cautious. Journal of Personality and Social Psychology.Abstract
Ruiz, Luciano and Suárez-Falcón (2023). Acceptance and commitment therapy with two anxious elite players and matched controls — the only kind of psychological trial published on chess players. International Journal of Psychology and Psychological Therapy.
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