Rational decision makers are never willing to violate the expected monetary value (EMV)maximization criterion when large amounts of money are at stake.

Question

Quizplus · Accepted Answer

Rational decision makers may sometimes violate the EMV maximization criterion due to risk aversion, especially when large amounts of money are at stake, as they may prefer a sure outcome over a risky one with a higher expected value.

Rational Decision Makers Are Never Willing to Violate the Expected