(M5E2) [Microeconomics] Risk Preferences

In this episode we discuss several preferences under risk including those that satisfy expected utility theory.
It's crucial to watch lecture videos in the proper order to ensure effective learning. This is because the concepts in each video build upon those introduced in previous videos. To help you with this, I recommend visiting my website, www.selcukozyurt.com, for a recommended course outline.

[@siddharthjoshi6811]

P.S. I think it has already been pointed out in comments . So I will take this moment to appreciate tecahing methods of Dr.Ozykurt. I have benefitted immensely from the course.
In the third preference relation we discussed here, i.e. Minimum Value Preference, t = {0.98,0.01,0.01}.
Min{V(z)| t(z) > 0} should be equal to '0'.

[@melkamudelju729]

I would like to appreciate and thank you.

[@lo5378]

Hello and thank you for uploading these videos. At 5.54 shouldn't we use the "strictly preferred to" sign (no tilde)?

[@TuNmIable]

Hello in the 13min the set 3 had 3 possible probabilities. If we pick the least shouldn't it have been 0?

[@selcukozyurt]

Yes, you’re right! I sometimes make such silly mistakes. Utility value of the last lottery, t, should be 0 not 10. Therefore, individual is indifferent between t and q.

[@TuNmIable]

In the 17min we have probability 0 and you wrote 0.5.

[@selcukozyurt]

Yes, this is the second mistake I make in this video, luckily though it doesn’t change the final outcome.