In an Experiment on Risk Aversion and Inconsistency, a Group

question 33

Multiple Choice

In an experiment on risk aversion and inconsistency, a group of people were given the option to accept or reject the following gamble: 50% chance to win $150, 50% chance to lose $100.Which of the following scenarios is most accurate and would most likely occur?

• A)A majority accepted the gamble.People who chose the gamble can expect to gain from it.
• B)A majority rejected the gamble.People who chose the gamble can expect to gain from it.
• C)A majority accepted the gamble.People who chose the gamble can expect to lose from it.
• D)A majority rejected the gamble.People who chose the gamble can expect to lose from it.
• E)People were evenly split between accepting and rejecting the gamble.Expected winnings from the gamble are zero.

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Definitions:

Ribulose Bisphosphate (RuBP)

A substance involved in the photosynthesis process, acting as a co2 acceptor in the Calvin cycle.

Phosphoglyceraldehyde (PGAL)

A three-carbon molecule formed during the Calvin cycle of photosynthesis and glycolysis in cellular respiration.

Carbon Dioxide

Carbon dioxide is a colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in air and is absorbed by plants in photosynthesis.

Phosphoglyceraldehyde (PGAL)

A three-carbon sugar molecule involved in the Calvin cycle of photosynthesis and also in glycolysis, a key step in cellular respiration.