Which firm should Andy purchase

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Question - Andy, a rational investor with a utility the square root of the net payoff he receives, has the choice of investing $20,000 in either Wilson Corp or Zytec Inc. There are 2 states of nature and Andy assesses that there is an 80% probability of high future cash flows (H) and a 20% probability for the state of low future cash flows (L).

The net payoff for Wilson is $5,000 for the high state and $2,000 for the low state.

The net payoff for Zytec is $5,250 for the high state and $1,000 for the low state.

Andy obtains information from the firms' MD&A. The information system for both firms shows that if the information in the MD&A is negative, the high state will occur with a probability of 20%, and the low state with a probability of 70%. The MD&A shows positive news for Wilson and negative news for Zytec. Which firm should Andy purchase? Show calculations.

Reference no: EM133124711

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