18. Daniel Ellsberg (long before the Pentagon papers) proposed the following thought-experiment. An urn contains 90 balls, 30 of which are red. The other 60 are black or yellow, in unknown proportions. One ball will be drawn randomly from the urn. You must make a choice between Gamble A and Gamble B: Gamble A: You win $100 if the ball is red. Gamble B: You win $100 if the ball is black. 1Which would you choose? Next, you must make a choice between Gamble C and Gamble D: Gamble C: You win $100 if the ball is either red or yellow. Gamble D: You win $100 if the ball is either black or yellow. Wch would you choose? Most people strongly prefer Gambles A and D. (a) Explain why this pattern of choices violates expected utility theory. (b) Explain why this pattern of choices is also inconsistent with prospect theory