Risk-averse people overestimate probability of losing money

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Reference no: EM131005573

Which of the following best explain why the pain of losing $1,000 exceeds the pleasure of winning $1,000 for risk-averse people? Check all that apply.

A. The more wealth that risk-averse people have, the less satisfaction they receive from an additional dollar.

B. Risk-averse people overestimate the probability of losing money.

C. The more wealth that risk-averse people have, the more satisfaction they receive from an additional dollar.

D. Risk-averse people are relatively wealthy and simply do not need the additional money.

Reference no: EM131005573

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