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Dr. A has won a lottery. Friends observe that he has changed his risk attitude and is no longer risk averse, while Dr. A was
Dr. A has won a lottery. Friends observe that he has changed his risk attitude and is no longer risk averse, while Dr. A was famouslyrisk averse before winning the lottery. Which of these following facts would be definitive evidencethat supports his friends' claim?
Select one:
a.Facing the same risky prospect, his certainty equivalent is now lower than before.
b.He now refuses to take a fair bet.
c.He will now only drink a glass of wine if a friend tastes it first.
d.His vNM utility is now an affine function.
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