Ron Lost $20 Playing the Slots in Atlantic City

Multiple Choice

Ron lost $20 playing the slots in Atlantic City.However,he found $20 on the subway.Even though Ron comes out even in terms of cash,he still feels pretty badly about losing money in the slot machines.In fact,he actually feels neutral about finding the $20 on the subway.Ron's feelings can be explained best by ____.

A) the gambler's fallacy
B) expected value
C) utility
D) loss aversion