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WE Chapter 7 MINITAB2 333 Announcemen pandascholar.c / pandascholar.c pandascholar.c ECON 406 X b course hero - | Course Hero + v X Ambiguity... . .. WE V file:///C:/Users/han 10/OneDrive/Desktop/ECON%20406%202020%20Spring9%20Final.pdf 2 (# 3 5) |9 - + So extra Battlefield Minitab 19 assignment V 2. Suppose that Bob evaluates expected utility for a set of prior probability distributions and acts to maximize the minimum of expected utility over these priors (Gilboa and Schmeidler (1989)). Consider a 20 ticket to an independence day show which needs not hold due to a pandemic (e.g. COVID 19). Supose PDF there are only three possible scenarios on independence day PDF Logitech G FIFA 20 ECON 406 State | Description HIST 33306 HUB 2020 Spri... Pandemic is gone and the show goes on e Pandemic is half-gone and people wear masks to the show and keep social-distancing A EL B PDF Pandemic is still on fire and the show is cancelled with a refund of $10 SunloginR... Apex final Bob gets 200 utils if state A realizes; gets 50 utils if state B realizes; and gets 10 utils if state C realizes. Legends Assume Frank is a expected utility maximizer who has a ticket to the show and gets the same utility as Bob from the show. Yet, they holds different priors as in the table below: D L PDF A B P 1/2 1/4 1/4 PDF PDF Discord League of econfinal P' 2/50 9/50 4/5 ART 13111 HIST 33156 Legends p" 4/20 1/20 3/4 q qa 96 (1 - qa - 9b) ZThe II... e L (i.e. u(x) = x). The set of Bob's prior is {p, p', p"}. Frank's prior is q. Suppose both of them have linear utility in wealth PDF Microsoft Chapter 6 Edge Uncertain_... (a) (6 points) What is the highest price Bob would be willing to pay for this ticket? HUM 26102 P& EPIC (b) (4 points) Suppose Frank would sell the ticket at own lowest price. Under what conditions on qa, 96 such that Bob will buy from Frank? Explain very briefly the intuition behind the condition in one PDF sentence. Chapter 7 Steam Epic Games ENGL 10245 Ambiguity... Launcher English Lit... 9 Google Say Borderlands Chrome 3 WE Jiaqi Han 0206 (c) (4 points) Suppose the set of Bob's prior is {p,p',p", q}. Under what conditions on qa, 95 such that 901/ c263a... Bob will buy from Frank? PDF 3. Today is Friday and you must write a paper before Monday. However, there are some games on TV that Huorong ECON406 you don't want to miss this weekend-pro-basketball on Friday night college football on Saturday and Interne... Final Stu... e ENG 9:56 2020/5/14