1.2 What is Lous expected utility from taking this job? Lou is offered a risky summer lawn-mowing...
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1.2 What is Lou’s expected utility from taking this job?
Lou is offered a risky summer lawn-mowing job. If he takes this job, there is a 50 per cent chance that at the end of the summer he will have £5,000 and a 50 per cent chance that he will have only £1,000. The table shows Lou’s utility from his end-of-summer wealth.
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Related Book For 
Economics
ISBN: 9781118150122
10th European Edition
Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews
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