Which statement accurately describes prospect theory?
a. People avoid risk in situations where they face a loss and seek risk in situations in which they stand to gain.
b. Most people take increased risks if they feel they have a high probability of gaining.
c. People are born with a natural tendency toward risk aversion.
d. People avoid risk in situations where they stand to gain and seek risk in situations in which they face a loss.
Answer: D
Psychology
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