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An investor with unit wealth maximizes the expected value of the utility function U(x)=ax-bx^2/2 and obtains...

An investor with unit wealth maximizes the expected value of the utility function U(x)=ax-bx^2/2 and obtains a mean-variance efficient portfolio. A friend of his with wealth W and the same utility function does the same calculation but gets a different portfolio return. However, changing b to b’ does yield the same result. What is the value of b’?

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