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The Prospect theory utility function is: A) risk averse B) concave to the left of reference point and convex to the right C) S-shaped D) risk neutral E) convex
The Prospect theory utility function is:
A) risk averse
B) concave to the left of reference point and convex to the right
C) S-shaped
D) risk neutral
E) convex
Expert Solution
Answer-
The correct answer is E.
The Prospect theory utility function is a convex value funcation as it is having the potential to avoid loses.
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