A Risk-Averse Person

question 36

Multiple Choice

A risk-averse person

• A)has a utility curve where the slope increases with wealth,and might take a bet with a 80 percent chance of winning $300 and a 20 per chance of losing $300.
• B)has a utility curve where the slope increases with wealth,and would never take a bet with a 80 percent chance of winning $300 and a 20 per cent chance of losing $300.
• C)has a utility curve where the slope decreases with wealth,and might take a bet with a 80 percent chance of winning $300 and a 20 per chance of losing $300.
• D)has a utility curve where the slope decreases with wealth,and would never take a bet with a 80 percent chance of winning $300 and a 20 per cent chance of losing $300.

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Definitions:

Fears

Emotional responses to perceived threats, characterized by anxiety and apprehension.

Succorance

The act of seeking out affection, protection, and nurturance from others.

Conditions Of Worth

Carl Rogers' concept referring to the standards set by others that one feels they must meet to be valued.

Peak Experience

A term for moments of extreme positive emotion, which are profoundly transformative and often lead to a sense of fulfillment.