Multiple Choice
Let us assume that you are faced with two prospects of winning money: A and B:
Prospect A is a 90% chance of winning $500. Prospect B is a 45% chance of winning $1000.
Expected utility theory predicts that individuals will be more likely to choose which prospect?
A) Prospect A
B) Prospect B
C) both Prospects equally
Correct Answer:
Verified
Correct Answer:
Verified
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