Your economic situation also skews the equation; If you don't have enough money, loss is much worse than if you have lots of money. Thus poor people can take less risk, and are likely to miss out on the opportunities the rich can afford to take.
Your economic situation also skews the equation; If you don't have enough money, loss is much worse than if you have lots of money. Thus poor people can take less risk, and are likely to miss out on the opportunities the rich can afford to take.
Agree. Perhaps substitute the $1000 for 2 bananas. Would you take a guaranteed third, or risk it for a potential 2 more. Each person's relative paint point to risk varies, but fundamentally we mostly all react the same when the prize is in proportion, regardless of each person's economic situation.