如果题目改成投资者是风险偏好，A是-3，代入公式中是否仍是选择最大的U？

问题如下：

Kam Bergeron is a risk-averse investor. He will apply utility theory to choose the investment portfolio. The table shows the expected return and expected standard deviation of several investments, assuming the measure of risk aversion is 3, U=E(r)-1/2Aσ², he is most likely to invest:

选项：

A.

2

B.

3

C.

4

解释：

A is correct.

Investment 2 provides the highest utility value (0.1979) for Kam Bergeron who has a measure of risk aversion equal to 3.