Prospect Theory Through the Ages

“Riches do not exhilarate us so much with their possession as they torment us with their loss.” – Epicurus

“Men feel the good less intensely than the bad.” – Livy

“For most people, the fear of losing $100 is more intense than the hope of gaining $150. We conclude from many such observations that losses loom larger than gains and that people are loss averse.” – Daniel Kahneman

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