In an experiment on risk aversion and inconsistency, a group of people were given the following choice: A)Lose $100 with certainty, or B)50% chance to win $50, 50% chance to lose $200.Which of the following scenarios is most accurate and would most likely occur?
A)A majority chose option A.Option A has a lower expected loss.
B)A majority chose option B.Option A has a lower expected loss.
C)A majority chose option A.Option B has a lower expected loss.
D)A majority chose option B.Option B has a lower expected loss.
E)Roughly equal numbers chose A and B, because they have equal expected losses.

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The Answer of In an experiment on risk aversion and inconsistency, a group of people were given the following choice: A)Lose $100 with certainty, or B)50% chance to win $50, 50% chance to lose $200.Which of the following scenarios is most accurate and would most likely occur?
A)A majority chose option A.Option A has a lower expected loss.
B)A majority chose option B.Option A has a lower expected loss.
C)A majority chose option A.Option B has a lower expected loss.
D)A majority chose option B.Option B has a lower expected loss.
E)Roughly equal numbers chose A and B, because they have equal expected losses.

In an Experiment on Risk Aversion and Inconsistency, a Group