= = A generic lottery that offers the payoff x with probability and the payoff y with probability 1-7 can be denoted with the triple (x, y, 7). Consider the following four lotteries: L = (10000,0,0.1), L (15000, 0, 0.09), L (10000,0,1), and L= (15000,0,.9). In experiments, investors frequently report that they prefer L2 to L, while also reporting that they prefer L to L. Researchers claim that this is evidence against expected utility theory. Using the tools and terminology developed in this course, explain why these choices are inconsistent with expected utility theory.