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Jill possesses $160,000 worth of valuables. She faces a 0.02 probability of a burglary, where she would lose jewelry worth $70,000. Her utility function is
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
