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Let 1 and 2 represent two levels of consumption in two different states of nature and let 1 and 2 represent the probabilities that each
Let 1 and 2 represent two levels of consumption in two different states of nature and let 1 and 2 represent the probabilities that each state of nature realizes. Which of the following utility functions have the expected utility form? Choose one or more: A. (1,2,1,2)=1log1 2log2 B. (1,2,1,2)=11 22 C. (1,2,1,2)=(11 22)2 D. (1,2,1,2)=4(11 22) 5 E. (1,2,1,2)=11 22 F. (1,2,1,2)=1122 G. (1,2,1,2)=11 22 H. (1,2,1,2)=121 252
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