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Question 1 (10 marks) Penny is an expected utility maximiser with utility function (@) = In(+) and wealth of $300. Paddy makes decisions in accordance

Question 1 (10 marks) Penny is an expected utility maximiser with utility function (@) = In(+) and wealth of $300. Paddy makes decisions in accordance with prospect theory, has wealth $300 and value function: v(x) - where : 2 0 -2(-2) where =

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