In the risky venture example, suppose there is no riskless alternative; the only two possible decisions are the less risky venture and the more risky venture. Explore which of these is the preferred...

In the risky venture example, suppose there is no riskless alternative; the only two possible decisions are the less risky venture and the more risky venture. Explore which of these is the preferred alternative for a range of risk tolerances. Can you find a “cutoff point” for the risk tolerance so that the less risky venture is preferred for risk tolerances below the cutoff and the more risky venture is preferred otherwise?