With memories of the media retreat rapidly, er, retreating from my mind, I thought I'd better provide the answer to the question I posed on Friday. A reader named Xander (hi, Xander!) offered his solution via the comments:
People are generally loss-averse so most will choose the guaranteed loss of $3000 to avoid the likely hit of 4 grand. In the case of the winning money, nothing ventured, nothing gained, something cliche: people will roll the dice for the extra cash cause hey, if you don't win,... READ ON