And – expected utility theory notwithstanding – people adapt more
easily to 100% certain bad events than to 95% certain bad events.
Here is more.
Further thoughts: I can see how the possibility of fertility treatments might make a couple worse off, if those treatments don’t work. But is it better to feel "I will never have sex again," or would you rather hold on to the five percent chance? What exactly makes these two cases different?
Sure. Same result (more or less) that says that people think a computer is slower if it takes 1 second sometimes and 30 seconds other times versus a computer that always takes 30 seconds to produce the same result.
I think Eleanor Roosevelt said, “Anyone can endure hardship, but only the truly brave can endure suspense.”
Niels – read the words “these two cases”…
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