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Which statement best summarizes loss aversion as describe... | QuestionStock

Representative image for question: Which statement best summarizes loss aversion as described in prospect theory?

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Economics

Which statement best summarizes loss aversion as described in prospect theory?

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Which statement best summarizes loss aversion as described in prospect theory?

Options:

People value gains and losses equally in decision making
Losses hurt more than equivalent gains feel good
Individuals always prefer certain gains over risky ones
Risk preferences are identical across all contexts

Correct answer: Losses hurt more than equivalent gains feel good

Explanation: Prospect theory (Kahneman & Tversky, 1979) posits loss aversion: losses loom larger than equivalent gains, a behavioral mechanism that helps explain observed reluctance to sell assets at a loss and other risk behaviors.

Created 2026-03-10T18:48:33.901Z. Updated 2026-03-10T18:48:33.901Z.