In a DD model with 3 periods t=0,1,2. Each consumer is endowed with 1 potato at t=0, has probability 1/2 of becoming hungry at t=1 and probability 1/2 of becoming hungry at t=2. Consumer utility is given by u(c)=1-1/c.

Storage technology generates a gross return of 1 from period 0 to 1, and return of 1 from period 1 to 2.

Investment technology generates a return of 3 from period 0 to period 2. If an investment is liquidated early in period 1, its return is reduced to 0.5.

What's the lifetime happiness of the consumer if ONLY storage is used. Lifetime happiness=______

What's the lifetime happiness of a consumer if ONLY investment is used. Lifetime happiness=_____