1.what are the two main ways in which prospect theory deviates from expected utility theory?

3. Suppose 30 players are playing a .8Beauty Game, where participants select a number between 0 and 100. The goal is to be as close as possible to .8x the average. (a) What are possible bids for somebody who is a D-O level thinker? A D-l level? (b) \"What will somebody who is a L-l thinker bid? What about L-2? Assume that L-O thinkers bid randomly. (c) W'hat will somebody who is a 0-2 and thinks that 30% of the population is L-O and 70% is L-l bid? Assume that L-D thinkers bid randomly