on Wednesday, March 29, 2006
Decision makers do not always select alternatives that maximize expected value in a decision situation. The basic reason is that people are not willing to accept potential losses in the present in order to realise potential gains in the long run. These people are the risk avoiders. On the other hand, here are risk takers who are willing to gamble greater amounts of money than the current expected return would warrant.
Are you a risk taker?
Carina
12:41:00 AM
