Examlex
Using general language in written communication can often lead to misunderstandings.
Von Neuman-Morgenstern
A theory in economics that provides an axiomatic basis for expected utility theory, which helps to explain choice under uncertainty.
Probability
An indication of how probable an event is to happen, represented numerically between 0 and 1, with 0 meaning it cannot happen and 1 meaning it is certain to happen.
Risk Loving
A financial term describing an individual or entity's preference for taking risks, where the potential for higher gains outweighs the possibility of losses.
Probability
The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.
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