entirelyuseless comments on Risk aversion does not explain people's betting behaviours - Less Wrong

8 Post author: Stuart_Armstrong 20 August 2012 12:38PM

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Comment author: entirelyuseless 06 June 2016 10:35:29PM 0 points [-]

Real people are risk averse not only because of decreasing marginal utility, but also because they see "I had the choice to refuse a bet but did not take that choice, and consequently I lost money through my own choice," as an additional bad thing distinct from losing money.