Multiple Choice
Which of the following is a key assumption of the utility function?
A) Gambles of the form (x, p, y) should be equal to gambles of the form (y, p, x) .
B) Gambles are not interchangeable even if the prizes are similar.
C) A person's attitude toward a lottery is not solely dependent on the ultimate prizes.
D) Every object considered for gambling is comparable.
Correct Answer:
Verified
Correct Answer:
Verified
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