Suppose that the probability of every uncertain event is the same so that uncertainty about what event
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Suppose that the probability of every uncertain event is the same so that uncertainty about what event will occur is in a real sense maximized. Use the information in exercise 7 to see if the expected value of perfect information necessarily increases with this uncertainty.
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Related Book For 
Managerial Economics A Mathematical Approach
ISBN: 9781118091364
1st Edition
Authors: M. J. Alhabeeb, L. J. Moffitt
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