Assuming there is no pleasure in the gambling process, a risk-averse person with perfect information will
A)always refuse a fair gamble.
B)consider all gambles unfair.
C)always accept a fair gamble.
D)sometimes refuse a fair gamble.

Question

Quizplus · Accepted Answer

A risk-averse person would opt for certainty over uncertainty as long as there is no pleasure in the gambling process. With perfect information, they would always refuse a fair gamble to avoid any potential losses.

Assuming There Is No Pleasure in the Gambling Process, a Risk-Averse