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Gregg is a mountain climber who dreams of climbing Mount Everest. He has a micromort value of $8 and after some reflection he has decided
Gregg is a mountain climber who dreams of climbing Mount Everest. He has a micromort value of $8 and after some reflection he has decided that he would be willing to pay $100K to live the experience of climbing Mount Everest if he were certain that he would not die. He believes the probability of dying if he chooses to climb Mount Everest is 0.008. If he is willing to pay $X to climb the mountain, in what range does X lie? a) X $50K Gregg is a mountain climber who dreams of climbing Mount Everest. He has a micromort value of $8 and after some reflection he has decided that he would be willing to pay $100K to live the experience of climbing Mount Everest if he were certain that he would not die. He believes the probability of dying if he chooses to climb Mount Everest is 0.008. If he is willing to pay $X to climb the mountain, in what range does X lie? a) X $50K
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