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  3. 14 fill in the blank a concave utility function one...

Question: 14 fill in the blank a concave utility function one...

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14. Fill in the blank: A concave utility function (one which exhibits decreasing marginal returns tic of A. Risk neutrality C. Risk aversion D. Irrationality E. The endowment effect 18. The Axiom of Independence prevents what pathology of decision making? A. Inability to make a decision of any kind for some choice sets B. Inability to make choices under risk C. Obession with infinitely improbable alternatives D. Neglecting base rates E. Manipulation by framing effects

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