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As the winner of a local race, your prize is to select any one of the following items from an on - line store. Assume
As the winner of a local race, your prize is to select any one of the following items from an online store. Assume you're a big fan of Pearl Jam, and also enjoy Woody Allen movies. The store has a policy whereby any item can be returned to the store with the click of a button, without any questions asked, and the price of that item gets credited immediately to your account. You can then spend this credit to purchase any other item in the store.
What item should you select according to the principle of positive marginal utility of wealth?
My Life's Story, by George W Bush, price $
The audible memoirs of Gore, price $
Pearl Jam's rare song collection, price $
Woody Allen's book of quotes, price $
The best video clips of Seinfeld, price $
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