“…the decision weights that people assign to outcomes are not identical to the probabilities of these outcomes, contrary to the expectation principle. Improbable outcomes are overweighted—this is the possibility effect. Outcomes that are almost certain are underweighted relative to actual certainty.”

in Daniel Kahneman, Psychology, Writers

-Daniel Kahneman, Thinking, Fast and Slow (New York: Farrar, Straus and Giroux, 2011), p.312.

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