Multiple Choice
John is not willing to pay $2 for a lottery that has an expected value of $3 while Ben is willing to pay $4 for the same lottery. What can we tell about John and Ben?
A) John is risk-seeker, Ben is risk-averse
B) John is risk-averse, Ben is risk-seeking
C) Both, John and Ben, are risk-seeking
D) Both, John and Ben, are risk-averse
Correct Answer:
Verified
Correct Answer:
Verified
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