You were given a lottery ticket. The drawing will be held in 5 minutes. You have a
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You were given a lottery ticket. The drawing will be held in 5 minutes. You have a 0.1 percent chance of winning $10,000. You refuse an offer of $11 for your ticket. Are you risk averse? Explain.
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Yes in this scenario you are demonstrating risk aversion Risk aversion is a concept in economics and ...View the full answer
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