The expected value with perfect information assumes that all states of nature are equally likely

The most important aspect of choosing a career is the amount of income that career will generate over your lifetime

Indicate whether this statement is true or false.

Which of the following statements best differentiates compensatory and punitive damages in civil litigation?

A) Compensatory damages are meant to reward a plaintiff, while punitive damages are meant to reward a defendant. B) Compensatory damages are meant to compensate a plaintiff's loss, while punitive damages are meant to deter similar misconduct by the same defendant or other parties in the future. C) Compensatory damages are meant to reward a defendant, while punitive damages are meant to punish a claimant. D) Compensatory damages are benefit streams the plaintiff would have received if not for the injury, while punitive damages are the benefit streams the plaintiff will receive for future damages.