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George is seen to place an even-money $10 bet on the Warriors to win the NBA Finals. If George has a utility-of-wealth u(w) = ln(w)
George is seen to place an even-money $10 bet on the Warriors to win the NBA Finals. If George has a utility-of-wealth u(w) = ln(w) function and if his current wealth is $200, what must he believe is the minimum probability that the Warriors will win?
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