People generally prefer a certain $20 payment over an 80 percent chance of receiving $25, which contradicts rational economic theory that predicts equal preference because the net value is the same.

Authors

• Person: Paul Conner Organization: Quirk's
  Behavioral economics: what it is and three ways marketers can use it

Sources

• Behavioral economics: what it is and three ways marketers can use it www.quirks.com Paul Conner · Quirk's via serper

Referenced by nodes (1)

• rational economic theory concept