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Hello, I need a hint on the following question: A seller is serving a customer who is fancy or not fancy. A seller assigns probability
Hello,
I need a hint on the following question:
A seller is serving a customer who is fancy or not fancy. A seller assigns probability p to a customer being fancy. the customer is buying a dress: it is publically known that a fancy customer has long hair while a non fancy customer has short hair. a fancy customer values a dress at z and a non fancy customer values it at x
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