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Ligneul et al. (2013) tested this hypothesis in pathological gamblers, calculating "certainty equivalents" across varying levels of objective probability from to 1. Related approaches using the discounting framework have demonstrated fine alterations of worth representations in the ventral striatum in pathological gamblers (Miedl et al., 2012 Peters et al., 2012). Behavioral financial aims to decompose the processes of alternative valuation into simple components that can be quantified with discrete parameters (Schonberg et al., 2011). A central function of PT is "loss aversion," referring to the empirical observation that humans (and other species) are extra sensitive to losses than to gains. For example, subjects usually reject mixed gambles that provide a 50–50 chance of winning or losing a provided amount of funds. In addition to this asymmetry between gains and losses, PT describes a value function for gains that is concave, contrasting with a worth function for losses that is convex. Gambling is a branch of the entertainment market exactly where patrons stake an object of value (commonly funds) on the uncertain prospect of a bigger reward (the "jackpot"). Gambling dates back many millennia and remains ubiquitous across human societies, with lifetime gambling participation reported as 78% in the United States (Kessler et al., 2008).

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