Ron lost $20 playing the slots in Atlantic City. However, he found $20 on the subway. Even though Ron comes out even in terms of cash, he still feels pretty badly about losing money in the slot machines. In fact, he actually feels neutral about finding the $20 on the subway. Ron's feelings can be explained best by ____
a. ?the gambler's fallacy
b. ?expected value
c. ?utility
d. ?loss aversion
ANSWER:
d
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