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A real estate investor has the opportunity to purchase land currently zoned residential. If the county board approves a request to rezone the property as
A real estate investor has the opportunity to purchase land currently zoned residential. If the county board approves a request to rezone the property as commercial within the next year, the investor will be able to lease the land to a large discount firm that wants to open a new store on the property. However, if the zoning change is not approved, the investor will have to sell the property at a loss. Profits in thousands of dollars are shown in the following payoff table.
tableState of Nature,Rezoning Approved,Rezoning Not ApprovedDecision Alternative,
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