For what values of z does heidi accept two independent plays

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Reference no: EM13148011

Consider the bet (-$200,3/4;$Z,1/4) Supposed that Heidi is an expected utility maximizer with u(x) = -1/x and her initial wealth is $5000. i) For what values of Z does Heidi reject a single play of the bet? ii) For what values of Z does Heidi accept two independent plays of the bet? iii) is is possible for Heidi to reject the single bet but accept the aggregate bet?

Reference no: EM13148011

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