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Business Executives and Choice of Risk
* Example
- Study of 464 executives found that:
* The persons who liked risky situations did so when the losses were involved.
* When risks involved gains same, executives opted for less unsafe situations.
* The executives made efforts to reduce or eliminate risk by delaying decisions and gathering more information.
In neoclassical economics, equilibrium exists when supply equals demand for a particular commodity. General equilibrium is a special (purely hypothetical) condition in which every
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