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Offered two gambles
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Assignment Help >> Business Economics

Tim is offered two gambles. With gamble A, he either gains \$2 or loses \$1 with a 50 percent probability. With gamble B, he either gains \$3 or loses \$2 with a 50 percent probability. Tim prefers gamble B to gamble A. What can we conclude?

Tim is risk loving.

Tim is risk neutral.

Tim is risk averse.

Insufficient information to determine

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