Given the Choice Between a Sure-Thing Option and a Gamble

question 117

Multiple Choice

Given the choice between a sure-thing option and a gamble option with the same expected payoff, a____________ person will choose the sure thing.

• A)risk averse
• B)risk loving
• C)risk neutral
• D)risk enjoying

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Definitions:

Proactive Interference

A phenomenon where old memories hinder the recall of new information.

Recognition

The cognitive process of identifying a familiar stimulus from among a variety of unfamiliar ones.

Recall

The process of retrieving information stored in the memory without the aid of cues.

Reconstruction

The process of assembling or rebuilding mental representations based on memory, influences, and expectations.