=+d. When we typically think of a “gamble,” we are thinking of different outcomes that will happen with different probabilities. But we can also think of “degenerate” gambles; that is, gambles where one outcome happens with certainty. Define the following three such “gambles”:

Gamble A results in the trip to Venice with probability of 100%; Gamble B results in the movie ticket with probability of 100%; and Gamble C results in nothing with probability of 100%.

How are these degenerate “gambles” ranked by someone who prefers the trip to the ticket to nothing?