You are a student at the University of Arkansas and desperately want to attend the next Razorbacks basketball game. The problem is that the admission ticket costs $10, and you have only $5. You can bet your $5 in a poker game, with a 50-50 chance of either doubling your money or losing all of it.

(a) Based on the real value of money, would you be tempted to participate in the poker game?

(b) Based on your ardent desire to see the game, translate the actual money into a utility function.

(c) Based on the utility function you developed in (b), would you be tempted to participate in the poker game?