There’s also an asymmetry between gains and losses, partly due to prospect theory, and partly due to decreasing marginal utility. I bet a lot of people would answer differently if they were asked what they would choose if given the choice between receiving the money vs. going back to the way things were before.
There’s also an asymmetry between gains and losses, partly due to prospect theory, and partly due to decreasing marginal utility. I bet a lot of people would answer differently if they were asked what they would choose if given the choice between receiving the money vs. going back to the way things were before.