Responses to chance-determined outcomes were examined in 2 experiments in which subjects received a positive or negative outcome on the basis of chance. Subjects [human] evaluated both outcomes prior to and after learning which outcome they had received. There were no changes in evaluation of the positive outcome. The negative outcome was rated more positively on the 2nd rating. Those receiving the negative outcome rated it more positively than those receiving the positive outcome. The negative outcome was evaluated more positively when the post-outcome rating was delayed rather than assessed immediately after subjects learned of their outcome. Subjects were more surprised to get the positive than the negative outcome, suggesting a lower pre-outcome subjective probability of receiving the positive outcome (i.e., pessimism). Outcome evaluations of control subjects who did not expect to receive either outcome were compared to pre-outcome evaluations of experimental subjects. There were no differences for the positive outcome, but the negative outcome was evaluated more positively by experimental subjects. Pre- and post-outcome reevaluations occurred, both of which have the effect of decreasing the aversiveness of (potentially) receiving a negative outcome.