: Yet in both cases their behaviour reflects a common psychological trait: a risk-seeking preference in the face of a guaranteed loss, according to The Independent. Amos Tversky and Daniel Kahneman nailed down this tendency in a paper in the journal Econometrica in 1979, using their own research. Alexis Tsipras is a former Communist activist who named his son after Che Guevara, while the bosses of giant financial institutions like Dick Fuld at Lehman Brothers and Fred Goodwin at the Royal Bank of Scotland were self-styled heroes of unfettered global capitalism. When they offered a sample of people a choice between receiving $3,000 for sure and an 80 per cent chance of getting $4,000, the vast majority said they would take the $3,000. The majority opted to take the gamble. But when they offered the same group a choice between a guaranteed loss of $3,000 and an 80 per cent chance of losing $4,000, things were reversed.
(news.financializer.com). As
reported in the news.
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