According to the rational choice theory of human behavior-the predominant theory in economics and an influential theory in other disciplines, including law-people strive to enhance their own well- being. Among the available options, they rationally choose the one that would maximize their expected utility, determined in absolute terms.
Loss Aversion and the Law,
65 Vanderbilt Law Review
Available at: https://scholarship.law.vanderbilt.edu/vlr/vol65/iss3/3