Question
. The IR constraint for the high-value type ensures that A. the high type will get negative utility from the high contract. B. the high
. The "IR" constraint for the high-value type ensures that
A. the high type will get negative utility from the high contract.
B. the high type will get zero or positive utility from the high contract.
C. the high type prefers the high contract over the low contract.
D. the high type prefers the low contract over the high contract
. The "IC" constraint for the high-value type ensures that
A. the high type will get negative utility from the high contract.
B. the high type will get zero or positive utility from the high contract.
C. the high type prefers the high contract over the low contract.
D. the high type prefers the low contract over the high contract.
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Statistical Techniques In Business And Economics
Authors: Douglas Lind, William Marchal, Samuel Wathen
14th Edition
0077309421, 978-0077309428
