Haruvy, Ernan; Erev, Ido; Sonsino, Doron - In: Journal of Risk and Uncertainty 22 (2001) 3, pp. 251-61
Mainstream explanations to gambling specify conditions under which human agents are locally risk loving. Such theories, however, fail to explain the typically observed prize distribution of a few large prizes and a large number of medium ones--hence the medium prizes paradox. In the current...