1 Consider the Allais paradox: an agent who prefers over (taking the sure thing), and C over...
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1 Consider the Allais paradox: an agent who prefers over (taking the sure thing), and C over (taking the higher EMV) is not acting rationally, according to utility theory. Do you think this indicates a problem for the agent, a problem for the theory, or no problem at all?
Explain.
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