Low risk, high stakes: How probability level impacts decision-making in losses
The study looked at how people make decisions when faced with risky choices and different descriptions of outcomes. They found that when the possibility of losing everything is low, people are more influenced by how the situation is framed. In situations where you could lose money, people tend to be more cautious. The way a decision is framed can affect choices depending on the level of risk involved. This shows that people's attitudes towards risk are influenced by how they perceive potential losses.