Examlex
In cattle, roan coat colour (mixed red and white hairs) occurs in the heterozygous (Rr) offspring of red (RR) and white (rr) homozygotes. Which of the following crosses would produce offspring in the ratio of 1 red:2 roan:1 white?
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.
Utility Function
An economic model that quantifies the satisfaction or happiness a consumer receives from consuming goods and services.
Expected Utility
A theory in economics that models how agents choose among risky alternatives to maximize their satisfaction.
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