Harbaugh, William T.; Krause, Kate; Vesterlund, Lise - Department of Economics, University of Oregon - 2002
The most distinctive prediction of prospect theory is the fourfold pattern (FFP) of risk attitudes. People are said to be (1) risk-seeking over low-probability gains, (2) risk-averse over low-probability losses, (3) risk-averse over high-probability gains, and (4) risk-seeking over...