For Many People, a 50-50 Flip of a Coin for $100

Multiple Choice

For many people, a 50-50 flip of a coin for $100 might not be worth as much as a sure promise of $50, even though the gamble is mathematically worth twice as much as the sure thing. This is an example of ________.

A) selective perception
B) self-serving bias
C) risk aversion
D) availability bias
E) confirmation bias