Listen, if you are asking the question "should I take this risk", that is the very essence of utility. This is "your" question. You started the thread asking this very specific question. Economists have studied expected utility and risk going all the way back to Daniel Nash and game theory. You can google "von Neumann-Morgenstern utility theorem". It's referenced all over the paper you cited. LOL. Did you even read it?
Here, maybe your google button is broken, you can borrow mine:
