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Wealth
The total value of all financial assets and resources owned by an individual or entity, minus any liabilities.
Risk Averse
A description of an individual or entity that prefers to avoid risk and chooses options that have lower uncertainty and potential for loss.
Von Neumann-Morgenstern
A theory of expected utility, which provides a foundation for making rational decisions under uncertainty.
Probability
The quantification of the probability of an event happening, represented by a numerical value ranging from 0 to 1.
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