Lecture 27: Risk Aversion and the Expected Values

In this video, low-stakes decisions are examined and the concept of risk aversion is introduced. Using the example of gambling, low-harm decisions that have positive expected values are encouraged. Section 8: Low Harm Decisions (1/3) This is the 27th of a total of 40 short videos, which are divided into 11 sections. A course to learn the basic concepts and tools to help us make better decisions under uncertainty, take calculated risks, and reduce the stress and regrets that often come with decision making. If you would like to learn more, please subscribe to this channel and read the textbook at www.probabilitycourse.com.