The Hidden Danger of Being Risk-Averse
Harvard Business Review
JULY 2, 2013
Amos Tversky and I] concluded from many such observations that ''losses loom larger than gains'' and that people are loss averse.". One of the most famous risk-takers in recent memory is JP Morgan''s "London Whale," Bruno Iksil, who doubled down on a losing bet rather than admit his losses, ultimately costing the bank over six billion.
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