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Let Joe's von Neumann-Morgenstern utility function be given by U = M^1/2 and his initial income level is $10,000. Joe is contemplating robbing the local

Let Joe's von Neumann-Morgenstern utility function be given by U = M^1/2 and his initial income level is $10,000. Joe is contemplating robbing the local bank, where he can expect to gain $30,000 if he gets away with the crime, and he'll pay fines and loses equal to ose $7,500 if he gets caught. He estimates the probability of getting caught at 10% (0.10). According to Becker's "Economics of Criminal Behavior," will Joe rob the bank? Why or why not?

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