A situation in which an individual has no information about probabilities and the underlying distributions of the possible outcomes of an investment choice is called:
a. a prior distribution.
b. updating.
c. risk tolerance.
d. pure uncertainty.
D
Economics
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In markets free from intervention, prices tend to move towards equilibrium because of
A) the "helping hand" of government. B) increased demand from buyers. C) increased supply by sellers. D) the unintended consequences of choices among buyers and sellers pursuing their own plans.
Economics
What is "game theory"?
What will be an ideal response?
Economics