Question: Consider a person who maximizes expected value except that she has loss aversion where losses are weighted times as heavily as gains (for some >

Consider a person who maximizes expected value except that she has loss aversion where losses are weighted times as heavily as gains (for some > 1). This person must choose between the following two options: Option A: $24 for sure Option B: 50% chance to gain $80, 50% chance to lose $20 For what value of X is the following statement true: This person would choose Option A if and only if her > X

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