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You have just made a loss of 100, when someone offers you the following gamble. If you take the gamble, you will get a 15%

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You have just made a loss of 100, when someone offers you the following gamble. If you take the gamble, you will get a 15% chance of recovering your 100 loss and break even. However, there is also an 85% chance that you will make a further loss of 20 in addition to the original 100 loss. Which ONE of the following statements are FALSE? Without the gamble you have a 100 loss for sure. The gamble has a negative expected payoff of minus 2. With the gamble, you face an expected loss of 102. Tick here if you think that none of the statements is false.) Investors who take this gamble may display loss aversion

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