Would I be right in interpreting your choice for E as a strong form of risk aversion that is stronger than any fairness considerations? Because E is also the only option that does not give everyone the same ex ante chance of belonging to the winners.
Would I be right in interpreting your choice for E as a strong form of risk aversion that is stronger than any fairness considerations? Because E is also the only option that does not give everyone the same ex ante chance of belonging to the winners.