A few weeks ago, I strongly recommended that my readers take the free course on Irrational Behavior offered by Dan Ariely. I have no idea how many readers actually followed my suggestion, but I’m now in the middle of the course, enjoying it, and learning from it.
One of the topics discussed in the course is risk aversion. Consider the following experiment: You are offered a chance to flip a fair coin. If it turns up heads, you win $1,100. If it turns up tails, you lose $1,000. Would you willingly do this? Continue reading Risk Aversion for Gamblers
