Problem
Given a choice of an extra $1,000 or a gamble with the same expected value, a person prefers the $1,000. But given a choice of a loss of $1,000 or a gamble with the same expected value, the same person prefers the gamble. How would a behavioral economist describe this decision?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.