The utility function whose expected value is maximized is convex for a risk-seeker, concave for a risk-averse agent, and linear for a risk-neutral agent.
But different risk-averse groups, like suppliers, customers or staff may be against a change or are sceptical about the implementation of the strategy.
The study identified twins with different life paths, wherein one twin displayed risk-taking behaviours, and the other displayed risk-averse behaviours.
Strong sustainable consumption approaches also pay attention to the social dimension of well-being and assess the need for changes based on a risk-averse perspective.
It may also explain differences between groups such as males being less risk-averse than females since males have more variable reproductive success than females.
Taken together, the results of this study indicate that capuchin monkeys are not only risk-averse, but are also sensitive to constructs such as price, budget, and payoff expectation.