Both-Averse Gain-Loving, Loss-Averse Loss-Loving, Gain-Averse Both-Loving You're a government official assigned to the emergency response to a dam breaking in California. You have two options for fixing the dam. Under one plan, 400 people will die, no matter what. Under the second, there's a 33% chance that 0 people will die, but a 66% chance that 600 people will die. To recap:
Plan 1: 100% chance 400 people will die.
Plan 2: 33% chance 0 people will die; 66% chance 600 people will die. Plan 1 Both-Averse, Gain-Loving/Loss-Averse Plan 2 Both-Loving, Gain-Averse/Loss-Loving Once again, you're a government official, assigned to the same type of emergency situation. This time, under one plan, 200 people will be saved, no matter what. Under another plan, there's a 33% chance 600 people will be saved, but a 66% chance that no one will be saved. To recap:
Plan 1: 100% chance 200 people will be saved.
Plan 2: 33% chance 600 people will be saved; 66% chance 0 people will be saved. Plan 1 Both-Averse, Gain-Averse/Loss-Loving Plan 2 Both-Loving, Gain-Loving/Loss-Averse