Loss aversion effects in the current literature include greater attention, longer evaluation time, heightened sensitivity to negative information, social conformity, smart phone addiction, short video addiction, further investment despite losses, and cigarette smoking. Risk factors for loss aversion include less sensitivity to loss, acute stress, cancer fear, material hardship, gambling disorder, and suicidality. Potential underlying biological mechanisms for loss aversion include prefrontal cortex involvement, amygdala connectivity with the prefrontal region, frontal medial connectivity, and insular cortex-temporoparietal connectivity. Methodological limitations of this literature include unequal sample sizes, the focus on single versus multiple effects and single versus multiple risk factors and cross-sectional versus longitudinal research design. Future research directions include comparing loss aversion with loss sensitivity, comparing different personality types that might be associated with loss aversion and gains such as pessimism and optimism respectively, and conducting multivariate studies that include several behaviors as well as physiological functions associated with loss aversion.