Table 1.
Coding Domain | Type of Probability | |
---|---|---|
Low Probabilities | Medium and High Probabilities | |
Gains | Risk seeking (e.g., preference for a bet with a 1% chance of winning USD 5000 over a sure gain of USD 5) |
Risk aversion (e.g., preference for a sure gain of USD 500 over a bet with a 50% chance of winning USD 1000) |
Losses | Risk aversion (e.g., preference for a sure loss of USD 5 over a bet with a 1% chance of losing USD 5000) |
Risk seeking (e.g., preference for a bet with a 50% chance of losing USD 1000 over a sure loss of USD 500) |