Question 1 (10 marks) Penny is an expected utility maximiser with utility function u(a:) = ln(zc) and wealth of $300. Paddy makes decisions in accordance
Question 1 (10 marks) Penny is an expected utility maximiser with utility function u(a:) = ln(zc) and wealth of $300. Paddy makes decisions in accordance with prospect theory, has wealth $300 and value function: 1 $3 Where 3: 2 0 0(15) : 1 2(a:) 2 where a:
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