Furthermore, the utility of not accepting either gamble is U(0) = 03 = O, Since E[U(X)] > E[U(Y)] > O, it follows that the person would choose to accept gamble X,
Furthermore, the utility of not accepting either gamble is U(0) = 03 = O, SinceE[U(X)] > E[U(Y)] > O, it follows that the person would choose to accept gamble X,