The Fourfold Pattern
Depending on the situation, people can be either risk averse or risk seeking. It is all about the probability of events happening and whether the end result will be positive or negative. For instance, when the chances are very much in favor and the result is positive, people are risk averse and fear the disappointment that luck won't be on their side, so they do anything to maximize their chances to 100%.
The change from 0% to 1% chance (possibility) and from 99% to 100% chance (certainty) are important psychological thresholds.
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