certain equivalents and relevant cost Retum to the setting of Table 12.2, but now assume the utility
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certain equivalents and relevant cost Retum to the setting of Table 12.2, but now assume the utility measure, defined over wealth 'N, is given by U(W) = -exp{-rW>, with r = .00001.
a] Evaluate the two options and determine their eertain equivalents.
b] Now reexpress the two options in terms of revenue le ss relevant eost. Evaluate them using the same utility measure. (Why is this an acceptable frame?) Determine their eertain equivalents and relate them to those you determined in [a] above.
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