The initial steep decline in the curve illustrates that losses feel particularly painful at first, signifying the substantial emotional impact they have on individuals. This reaction highlights how our perception of loss can be more intense during the early stages. As we experience more losses, however, the emotional response tends to diminish, leading to a gradual leveling off of the curve.

This phenomenon can be understood as the concept of decreasing marginal disutility of losses. Over time, individuals become more accustomed to experiencing losses, resulting in less emotional distress. The book emphasizes that while the pain of losing is significant initially, it becomes less overwhelming as we face ongoing challenges and setbacks.