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QUESTION
Consider p = ( $100,1) and q = ( $0,0.5; $200,0.5) . $100 1 $0 0 5; $200 0 5 What does FOSD tell us about p and q? Which lottery will be chosen by a
Consider p = ( $100,1) and q = ( $0,0.5; $200,0.5) . $100 1 $0 0 5; $200 0 5 What does FOSD tell us about p and q? Which lottery will be chosen by a risk averse person?
