Question: Draw a utility function such that the person is risk loving with respect to a small gamble, but risk averse with respect to a large

Draw a utility function such that the person is risk loving

Draw a utility function such that the person is risk loving with respect to a small gamble, but risk averse with respect to a large gamble. Explain. In your figure, place utility on the vertical axis and wealth on the horizontal axis

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1. What will happen in the future

3. Avoid making mistakes when reaching our goals

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