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. 2018 Dec 31;374(1766):20180140. doi: 10.1098/rstb.2018.0140

Table 1.

The fourfold pattern of risk attitudes in decisions from description and its reversal in decisions from experience (based on [44,53]).

description
experience
probability gain domain loss domain gain domain loss domain
low 32, 0.1a versus 3, 1.0
rare event: 32, 0.1
risk-seeking
48%b
−32, 0.1 versus −3, 1.0
rare event: −32, 0.1
risk-averse
36%
32, 0.1 versus 3, 1.0
rare event: 32, 0.1
risk-averse
20%
−32, 0.1 versus −3, 1.0
rare event: −32, 0.1
risk-seeking
72%
high 4, 0.8 versus 3, 1.0
rare event: 0, 0.2
risk-averse
36%
−4, 0.8 versus −3, 1.0
rare event: 0, 0.2
risk-seeking
72%
4, 0.8 versus 3, 1.0
rare event: 0, 0.2
risk-seeking
88%
−4, 0.8 versus −3, 1.0
rare event: 0, 0.2
risk-averse
44%

aThe alternative outcome (0 otherwise) has been omitted for all risky options.

bThis is the proportion of risky choices observed. In past studies, this proportion (48%) has been found to be greater than 50% (e.g. [52]).