| Options | Low pay-offs (Tshs) | High pay-offs (Tshs) | Expected value (Tshs) | The calculated Coefficient Relative Risk Aversion (CRRA) | Risk preference class |
| 1 | 1500 | 40,000 | 20,750 | Decreasing RR(W) | Risk loving |
| 2 | 5000 | 25,000 | 15,000 | Constant RR(W)) | Risk neutral |
| 3 | 8000 | 17,000 | 12,500 | Constant RR(W) | Risk neutral |
| 4 | 10,000 | 10,000 | 10,000 | Increasing RR(W) | Risk averse |