Which of the following best explain why the pain of losing $1,000 exceeds the pleasure of winning $1,000 for risk-averse people? Check all that apply.
A. The more wealth that risk-averse people have, the less satisfaction they receive from an additional dollar.
B. Risk-averse people overestimate the probability of losing money.
C. The more wealth that risk-averse people have, the more satisfaction they receive from an additional dollar.
D. Risk-averse people are relatively wealthy and simply do not need the additional money.