Bosch-Domènech, Antoni; Silvestre, Joaquim - In: Journal of Risk and Uncertainty 33 (2006) 3, pp. 217-235
What determines risk attraction or aversion? We experimentally examine three factors: the gain-loss dichotomy, the probabilities (0.2 vs. 0.8), and the money at risk (7 amounts). We find that the majority display risk attraction for small amounts of money, and risk aversion for larger amounts....