The tendency for people to dislike losing a particular amount more than they like gaining the same amount is called:
A)intuition.
B)implicit favourite.
C)nonprogrammed decision making.
D)prospect theory effect.
E)bounded rationality.

Question

Quizplus · Accepted Answer

The tendency described in the question is known as the prospect theory effect, which is a key concept in behavioral economics. This effect suggests that people's decision-making is often motivated more by avoiding losses than by seeking gains, and that people feel the pain of a loss more acutely than they feel the joy of a comparable gain. This effect has been demonstrated in numerous studies and has important implications for understanding human decision-making behavior. Thus, the correct option here is D.

The Tendency for People to Dislike Losing a Particular Amount