True or False

1)If a chooser satisfies the General Axiom of Revealed Preferences, others can extract his wealth from him through repeated trades.

2)Investors who overweight low probabilities will perceive positively skewed portfolios as more attractive than the investors who perceive probabilities objectively.

3)Giving free trials and samples is a strategy that marketers use to increase their sales that takes advantage of the observation that people are risk seeking in the domain of losses.

4)Based on Prospect Theory, sellers will make more money if they present customers with product with all the features and require the customer to remove features that they do not want.

5)Another term for ambiguity aversion is familiarity bias

6)Ambiguity aversion is aversion to unknown probabilities

7)Ambiguity aversion is aversion to unknown outcomes