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QUESTION
Assume that game 1 has an expected value of $10 and game 2 has an expected value of $5. A risk-averse person would prefer a sure thing of $4 in game 2, and a risk-neutral person would play game 2. to
Assume that game 1 has an expected value of $10 and game 2 has an expected value of $5. A risk-averse person would prefer a sure thing of $4 in game 2, and a risk-neutral person would play game 2.
to play game 1 over a sure thing. to play game 2 over a sure thing.
a sure thing of $4 in game 2, and a risk-neutral person would play game 1.
