A person is trying to decide if they should buy a lottery ticket. The ticket costs $2.00. If the ticket is a winner, the prize would be $1,000. Knowing that winning $1,000 is not a certain outcome (state of nature) , the person finds that the probability of winning is 0.001. Based on this information, the following payoff table can be constructed: 
What is the decision using a maximin approach?
Definitions:
Growth Mindset
The belief that abilities and intelligence can be developed through dedication and hard work, embracing challenges and learning from feedback.
Entrepreneurial Venture
A new business initiative undertaken by an entrepreneur, often characterized by innovation and risk-taking.
Growth Mindset
A concept referring to the belief that one's abilities and intelligence can be developed through dedication, hard work, and perseverance.
Fixed Mindset
The belief that basic qualities like intelligence or talent are fixed traits and that talent alone leads to success.
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