Question given a choice of an extra 1000 or a gamble with, Ask an Expert

Economics

Question: Given a choice of an extra $1,000 or a gamble with the same expected value, a person prefers the $1,000. But given a choice of a loss of $1,000 or a gamble with the same expected value, the same person prefers the gamble. How would a behavioral economist describe this decision?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92290028

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