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Abraham pulled out the lottery ticket he was given by a friend. He read the numbers and saw that they matched the numbers to win
Abraham pulled out the lottery ticket he was given by a friend. He read the numbers and saw that they matched the numbers to win the $1 million prize. When he rechecked his ticket later in the day, he realized that although the numbers matched, they were for a drawing held a different day. According to prospect theory, how would we expect this to affect Abraham's utility? Multiple Choice Since no actual money was gained or lost, it would have no impact on his utility. Abraham's utility gain from believing he had won $1 million would be more than offset by the disappointment of realizing he hadn't won the money. Abraham's utility gain from believing he had won $1 million would exactly match the utility lost by the disappointment of realizing he hadn't won the money. Abraham's utility gain from believing he had won $1 million would more than offset by the disappointment of realizing he hadn't won the money
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