An Individual Is Said to Be Risk- Averse If

question 44

Multiple Choice

An individual is said to be risk- averse if:

• A)w₁ is preferred with certainty to a gamble expected to payoff w₁.
• B)the utility function exhibits increasing marginal utility of wealth.
• C)the utility function exhibits constant marginal utility of wealth.
• D)prefer all certain prospects over a particularly risky prospect.

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Definitions:

Imitation Reflex

An innate reflex observed in infants where they mimic gestures or facial expressions, playing a role in learning and social interaction.

Deferred Imitation

The ability to reproduce a behavior that was observed at an earlier time, even when the model is no longer present.

Vygotsky's Theory

A developmental theory that emphasizes the role of social interaction in cognitive development.

Skilled Caregivers

Individuals with specialized knowledge and competencies in providing care and support, particularly in healthcare or child development contexts.