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QUESTION
Could you please write a general formulae for reconsiliation of Hicks' income number: From 2 ex post B to 2 ex ante, from 2 ex post A to 2 ex ante,
Could you please write a general formulae for reconsiliation of Hicks' income number:
From 2 ex post B to 2 ex ante, from 2 ex post A to 2 ex ante, from 2 ex post B to 1 ex ante
In this formula, the income ex-ante for any Prospect m can be derived as follows. In this case, m is apositive integer number. I m’ex-ante=Km,exp-Km-1,exp=i.Km-1,exp’Km-1,exp’=Km,exp=...