Just FYI, pretty much all of Thinking Fast and Slow has been caught up in the replication crisis and repudiated. I don't know about the fourfold pattern in particular.
Can you share your source, please.
(Not OP)
Here's one: https://replicationindex.com/2020/12/30/a-meta-scientific-pe..., discussed here: https://news.ycombinator.com/item?id=28917017
This is detailed pretty will in the book Scarcity, which highlights similar psychological effects among people who have not enough money, not enought time, not enough prestige, not enough room for caloric intake (dieters), etc.
I wish this book were more popular.
Google "The fourfold pattern". Basically, he states that there's a cognitive bias where people in situations where a poor outcome is likely to happen, tend to risk too much, and not settle for a bad (but better) outcome that what they already have.
If they kept compounding these "bad but better choices", they might have a chance.