Examlex
Which of the following is true of Samuel de Champlain?
Utility Function
An economic model that describes how consumers rank different bundles of goods according to the levels of happiness or satisfaction they provide.
Risk Neutral
A term describing an individual or entity that does not prefer or avoid risk, implying indifference to the amount of risk associated with any investment.
Risk Averse
A characteristic of individuals who prefer to avoid risk and would rather choose an option with a lower but more certain return than an option with a higher but uncertain return.
Von Neumann-Morgenstern
Pertains to a theorem used in expected utility theory, which provides an axiomatic basis for the selection of optimal choices under uncertainty.
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