In general, if one is above a perfommance target, the primary focus is on avoiding
actions that might place one below it. The dangers of falling below the target dominate
attention; the opportunities for gain are less salient. This leads to relative risk aversion
on the part of successful managers, particularly those who are barely above the target.
As long as the distribution of outcomes is symmetric, the dangers and the opportunities
covary; but since it is the dangers that are noticed, the opportunities are less important
to the choice. For successful managers, attention to opportunities and thus risk taking is
stimulated only when performance exceeds the target by a substantial amount.