A fair gamble is
A)a risk where the participant can expect to win any amount greater than 0
B)a risk where all possible outcomes are known to the participant
C)a risk where the player has a 50% chance of winning and a 50% chance of losing
D)a risky decision with an expected value of $0

Question

Quizplus · Accepted Answer

A fair gamble is defined as a risky decision where the expected value is $0, meaning the potential gains and losses are balanced such that the average outcome over time is neutral.

A Fair Gamble Is