If given the opportunity to enter a drawing for $500, or, take $10 right now, what kind of choice would it be considered to take the $10?

Name: If given the opportunity to enter a drawing for $500, or, take $10 right now, what kind of choice would it be considered to take the $10?
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Question

Quizplus · Accepted Answer

Taking the $10 immediately instead of entering a drawing for a potentially larger amount is considered risk-averse behavior, as it involves choosing a certain, smaller reward over a chance at a larger, uncertain one.

If Given the Opportunity to Enter a Drawing for $500