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Direct linkWalmsley, Stephen; Gilbey, Andrew – Applied Cognitive Psychology, 2020
One of the key findings of prospect theory is that people tend to treat potential gains differently to potential losses. Consistent with earlier findings across a range of areas, pilots were risk averse when faced with an uncertain situation involving monetary gains and risk seeking when faced with a monetary loss. Prospect theory has largely been…
Descriptors: Decision Making, Risk, Weather, Air Transportation
