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Select the least accurate statement. The expected value of perfect information is a largely irrelevant concept since perfect information is almost never available at any price. The expected value of information is the difference between the EMV obtained with free sample information and the EMV obtained without any information. The expected value of perfect information is the difference between the EMV obtained with free information that is perfectly reliable and the EMV obtained without any information. For a risk averse decision maker, the certainty equivalent is less than the expected monetary value. Suppose the certainty equivalent of a risky payoff is $100. This means that the decision-maker is indifferent between the choice of the risky payoff and the choice of receiving $100. Consider the following table of possible payoffs from a gamble with corresponding probabilities: Payoff 200 -100 Probability 40% 60% If an individual's utility from a payoff of amount x is U(x) = 1 - exp(-x/1000), then what is the expected utility from this gamble? 0.0315 0.0094 0.0198 0.1296 0.2000