People are risk-averse in gains but risk-seeking in losses

Evidence

The results showed that the assumptions underlying the classical theory of risky choice are systematically violated in the manner predicted by prospect theory. In particular, our respondents exhibited risk aversion in the domain of gains, risk seeking in the domain of losses, and a greater sensitivity to losses than to gains. — John T. Jost and Jim Sidanius, Political Psychology, 2406

Categorization

• CANDY: Loss aversion and loss-domain risk-seeking is a compact, tweetable behavioral finding.
• corroborated: 2 independent passages support this claim — John T. Jost and Jim Sidanius, Political Psychology, 2406
• XREF: connects to: Upper-middle-class risk-taking is a defensive response to falling behind the top 2% — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 145; Risk attitude determines how an investment’s value differs from its expected payoff — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 534; Portfolio insurance sells more stock as price falls, creating mechanical downward supply. — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 867 (+2 more)