Economy, asked by debajitdas3690, 3 months ago

what is fair gamble

Answers

Answered by pushpachowdhary28

Answer:

A gamble with an expected pay-off of zero. For example, consider a gamble that involves winning £2 with probability 1/3 and losing £1 with probability 2/3. ... A fair gamble is said to have actuarially fair odds. Someone who is strictly risk-averse will not accept a fair gamble.

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