Daniel Kahneman proved that people are loss averse and got a Noble prize for it.
However, as poker players know, that doesn't seem right. If someone loses, that person is much more likely to take negative EV decisions to get even. Or go up in stakes to take higher risks.
Let's say you start with 100. You feel that the right amount to gamble is 10. But if you lost and your down to 80, suddenly you feel that 20 is the right amount to gamble. As most professionals and statisticians know, one should lover ones bet when total wealth/bankroll decreases.
Can someone explain how this goes hand in hand with Kahnemans prospect theory?