c. (Note: This (and the next) part requires that you have read Chapter 17.) We have not
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c. (Note: This (and the next) part requires that you have read Chapter 17.) We have not explicitly mentioned this in the chapter, but game theorists often assume that payoffs are given in utility terms, with utility measured by a function u that allows gambles to be represented by an expected utility function. Within the context of this exercise, can you see why?
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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