送交者: xj 于 2006-4-28, 00:15:45:
回答: Dissent. 由 mangolasi 于 2006-4-27, 14:29:06:
They all have common mathematics foundation at the fundemental level, but they are different because they are examining different things.
The experiment are not supposed to illustrate any economic theory because $100 and $101 makes no difference no matter what you think, even between $0 and $100. It is a lab experiment. The purpose is to examine the psychological effect while eliminating the actual monetary issue.
This gambling example perfectly illustrates the risk aversion (or loss aversion) can occur at a minimal financial stress level. Therefore, it can expect that this can occur in a high level such as real investiment.
You guys missed the point, unfortunately.