A person has to make a decision based on her preferences over various lotteries, which can be described using the expected utility format along with a specific Bernoulli function u(x) where 'x' denotes the final wealth. Initially, she doesn't have any wealth but owns a volatile asset. This asset can have a value of either $16 or $64 with a 25% chance for each value, or it might have no value at all with the remaining probability. You propose to purchase this volatile asset from her at a price 'p'.

a) Let's assume the decision maker's Bernoulli function is u(x) = x. Determine the minimum price 'p' at which she'd be willing to part with her asset. Can you briefly explain how your answer showcases her aversion to risk?

b) Now, think of a scenario where the decision maker loves taking risks. What would be the price 'p' at which she would undoubtedly refuse to sell the asset to you? Provide a short explanation for your conclusion.