Suppose that we offer a choice between a coin-toss game with an expected value of $50, and a certain amount of $40. For each of the following, answer "choose the certain amount," "choose the lottery," or "not enough information."

a. Which would a risk-averse person take?

b. Which would a risk-neutral person take?

c. Which would a risk-loving person take?

If you answered "not enough information" to any of the above, what information would you need to give a yes or no answer?