Reference no: EM133183993

Recall there are three approaches to risk: risk averse, risk neutral, and risk loving. In practice, no one is completely one or the other and which one you are changes based on circumstance. 

For this discussion:

• In the suggested video on expected value, the narrator suggests you should play the game (expected value of $0.875). But of course, if you should play it depends on your attitude towards risk. Do you play the game? (Keep in mind there are degrees to your attitude towards risk; you can consider yourself risk averse and still play.)
• Describe a time when you were risk loving and a time when you were risk averse.
• Be sure to describe why you think you were risk loving and risk averse at those times.
• Do not choose the obvious examples, especially ones required by law (such as buying insurance). That's not the groundwork for an interesting conversation.