If Someone Has Strictly Convex Preferences Between All Contingent Commodity

question 8

True/False

If someone has strictly convex preferences between all contingent commodity bundles, then he or she must be risk averse.

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Definitions:

Proactive Interference

The phenomenon where old memories hinder the recall of newly learned information.

Retroactive Interference

A phenomenon in psychology where newly acquired information interferes with the recall of previously learned information.

Repression

A psychological defense mechanism where distressing thoughts, memories, or impulses are unconsciously pushed out of conscious awareness.

Semantic Memory

A type of long-term memory involving the storage of general knowledge, facts, concepts, and meanings not tied to specific experiences.