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Q1 match the names of axioms: monotonicity, transitivity,convexity,continuity,independence,completeness _ .75 If a player has a utility function given by (M _ W0 ,what is the

Q1 match the names of axioms: monotonicity, transitivity,convexity,continuity,independence,completeness

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_ .75 If a player has a utility function given by \"(M _ W0 ,what is the maximum they will be willing to pay to play the St Petersburg Paradox game? The St Petersburg Paradox involves a coin tossing game. The player tosses a fair coin as many times as is necessary n until it comes up heads. The game yields a prize equal to 2 , where n is the total number oftosses made. What is the expected value of the game? There are four axioms that underpin Expected Utility Theory. Match the names ofthese axioms to the four descriptions below. Prompts Submitted Answers If lottery A is preferred to lottery B; and lottery B is Transitivity preferred to lottery C; then lottery A must be preferred to lottery C. For every pair of possible lotteries, A and B; either A Completeness is preferred to B, B is preferred to A, or A is valued indifferently to B. There is nothing so good (or so bad) that it does not Choose a match become insignificant if it occurs with small enough probability. If we have to choose between two lotteries which are Convexity partially identical, then our decision should only depend on the difference between the two lotteries, not on the parts that are identical

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