Consider the Following to Answer the Question(s) Below

question 19

Multiple Choice

Consider the following to answer the question(s) below:
A farm owner who grows summer vegetables (e.g. tomatoes) must decide whether to employ additional pickers this season. If he does, he could hire either migrant workers or local teenagers who need summer employment. The migrant workers are more experienced, faster, but more expensive. Although the teenagers will work for less, they are not as experienced and tend to damage plants and produce. His profits, taking into account losses from unpicked perished or damaged produce, depend on whether there is a good or bad growing season. The payoffs are shown in the table below.
-If the farmer is risk averse, he would

• A) hire migrant workers.
• B) hire teenagers.
• C) not do any extra hiring.
• D) make the same decision as he would using the expected value approach.
• E) give up farming.

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Definitions:

Neuropsychological Tests

Standardized tasks or assessments used to measure brain function and cognitive performance, often used to diagnose cognitive deficits.

Frontal Lobe

The part of the brain involved in decision making, problem solving, control of purposeful behaviors, consciousness, and emotions.

Antisocial Personality Disorder

A mental condition characterized by a long-term pattern of manipulating, exploiting, or violating the rights of others.

Rule-Breaking

The act of violating established guidelines, norms, or laws.