Question
Kahneman and Tversky (1984) observe that risk seeking is prevalent when people must choose between a sure loss and a substantial probability of larger loss
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Kahneman and Tversky (1984) observe that risk seeking is prevalent when people must choose between a sure loss and a substantial probability of larger loss (and some probability of smaller loss).
Briefly explain how their VALUE function explains the phenomenon
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Food And Beverage Cost Control
Authors: Lea R. Dopson, David K. Hayes
6th Edition
1118988493, 978-1118988497
