Why must the probabilities of the possible outcomes of a lottery add up to 1?

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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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Question Posted: Mar 17, 2016 05:06 AM

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Why must the probabilities of the possible outcomes of a lottery add up to 1?

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As a general rule the sum of the probabilities of all possibl...View the full answer

Microeconomics

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