Final answer:
Participating in an unfair game doesn't prove one is risk-loving; players may have strategic reasons, a preference for fairness, or principles influencing their decisions. Factors like the total prize can also impact the acceptance of unfair offers.
Step-by-step explanation:
The statement 'If a person willingly plays an unfair game that is not in his favor, he must be risk loving' is not necessarily true. Willing participation in an unfair game doesn't conclusively determine that a person is risk-loving; there might be other reasons influencing their decision. For instance, a person might engage in an unfair game due to strategic reasons, such as the prospect of future fair play, the perception of fairness, or the punishment of unfairness.
In the context of this discussion, citing Confucius, 'To see what is right and not to do it is want of courage, or of principle', applies to the concept of engaging in activities that may not appear to be in one's best interest. It highlights that participants may choose to act against their own self-interest for reasons related to fairness, principle, or courage. Similarly, one might reject an unfair offer despite the cost, resisting a risky yet potentially unfavorable engagement.