Douglas Kim

47%
Flag icon
Note first that the expected value of the number of people saved is the same 200 in both programs. But according to prospect theory, people are risk-averse when considering possible gains from the two programs, and, as expected, about two-thirds of the respondents to this question picked Program A as the more desirable.
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing
Rate this book
Clear rating