A __________ is a decision maker who would choose a guaranteed payoff over a lottery with a better expected payoff.
A)risk taker
B)risk-neutral
C)risk avoider
D)risk-creator

Question

Quizplus · Accepted Answer

A risk avoider would choose a guaranteed payoff over a lottery with a better expected payoff because they prefer the safety and certainty of a guaranteed outcome rather than risking the possibility of receiving less or nothing at all.

A __________ Is a Decision Maker Who Would Choose a Guaranteed