When teenagers turn 18, they are told that they are adults and are allowed to vote, get a job, marry or join the military. They do grown-up things like pay taxes and become parents, but they can ‘t go to…
Author: poudell
Risk Preference from Economic and Psychological Perspective
In economics, risk preference refers to the tendency to choose an action that involves a higher variance in potential monetary outcomes, relative to another option with a lower variance of outcomes. In other words, it’s the tendency to choose a…