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Billy has a von Neumann-Morgenstern utility function U(c) = c1/2.If Billy is not injured this season, he will receive an income of 16 million dollars.If he is injured, his income will be only 10,000 dollars.The probability that he will be injured is .1 and the probability that he will not be injured is .9.His expected utility is
Ethnocentrism
The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a corresponding disdain for other groups.
Scarce Resources
A condition where the demand for resources exceeds the supply, leading to competition and conflict.
Sherif
Refers to Muzafer Sherif, a psychologist known for his work on social norms, and the realistic conflict theory.
Social Identities
The aspects of an individual's self-concept derived from perceived membership in social groups such as nationality, ethnicity, religion, or gender.
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