Furthermore assume that a californian assigns an

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In California, a lottery ticket costs $1. The jackpot prize is $5800000. Suppose that the chance of winning the jackpot is 1 in 1000000. Furthermore, suppose that a Californian assigns an indifference probability of 0.000001 to the $0 payoff. Based on the expected utility approach, would this person purchase a lottery ticket and why ?

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