Society, Politics & Law
Why does behavioural economics point to a hard Brexit?
...mathematically expected loss is £50 in each case, most of us will run the risk of worsening that loss if that brings a comparable chance of escaping it altogether. The evidence that people routinely gamble to avoid guaranteed losses, while playing safe with guaranteed gains, was assembled by cognitive psychologists and turned into an elegant “Prospect Theory” by Amos...
