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Question: 1. Explain why proportional scores represent a risk attitude that is risk-neutral.

2. An MBA student evaluating weather outcomes for an upcoming party has concluded that a sunny day would be twice as good as a cloudy day, and a cloudy day would be three times as good as a rainy day. Use these assessments to calculate utilities that range from 0 to 1 for sunny, rainy, and cloudy days

3. Throughout the chapter we have assessed individual utility functions that range from 0 to 1. What is the advantage of doing this?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92333278

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