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Suppose instead that we observe the following preference (where Y > 0 or Y ( $0.4Y , 1 ) (d) Suppose that Skye is a

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Suppose instead that we observe the following preference (where Y > 0 or Y ( $0.4Y , 1 ) (d) Suppose that Skye is a risk-averse expected utility maximizer. For what values of Y could Skye exhibit this preference? (e ) Suppose that Jane evaluates gambles according to prospect theory with "(p) = p and a value function that has the three properties suggested by Kahneman & Tversky. For what values of Y could Jane exhibit this preference? (f) Suppose that Elizabeth evaluates gambles according to prospect theory with a value function that has the three properties suggested by Kahneman & Tversky, and with a probability weighting function that has 7(0.4)

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