You have to have sufficient risk to make the payoff rewarding.
Again, another theory that sounds all fine and good, but it's pseudopsychology at best.
Edit: Actually, it seems that you've misconstrued the nature of the principle of risk/reward balance. This refers to financial investments, not human psychology and enjoyment.
Risk is not even nearly the sole factor in determining the value of a reward. To someone with a gambling problem, maybe. To an average person, no. An average person prefers very little risk and for their reward to be based on their personal merit.
I'm sure if you'll stop to think about it, you can come up with an endless list of examples of situations where people faced little risk, but found very desirable payoffs based on hard work, luck, or talent. Graduations, job and family successes, etc.
People don't enjoy winning the lottery because of all the money they stand to lose over time if they never win.
Edited, Aug 27th 2009 4:25pm by Kachi