Consider the example of a Prisoners' Dilemma, as described in Figure 1. Often, in real world explanations the outcomes are not expressed in utility. Suppose these represented changes in wealth (e.g. so -0.50 means "lose 50 cents").

Player 2

X R

Player 1 X (-0.50, -0.50) (+1.50, -1)

R (-1, +1.50) ( +1, +1)

Fig.1 Prisoner's Dilemma

What could the payoffs look like if the players were loss averse; i.e. they dislike losing money much more than gaining money.