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Risky Prospect K is defined as: K = ($7, 0.30 ; $11 , 0.70) If my utility of wealth function is given by()= u(x)=xand =0.6,
Risky Prospect K is defined as:
K = ($7, 0.30 ; $11 , 0.70)
If my utility of wealth function is given by()= u(x)=xand =0.6, what is my certainty equivalent for prospect K?
(What is the value of CE(K)?)
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