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Faced with an Uncertain Situation,the Best Decision for a Person

Question 17

Multiple Choice

Faced with an uncertain situation,the best decision for a person obeying the von-Neumann Morgenstern axioms:​


A) ​minimizes loss relative to the status quo.
B) ​minimizes variability across possible outcomes.
C) ​maximizes the expected payoff.
D) ​maximizes expected utility.

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