(b) $10,000 (c) $2,000 (d) $8,000 1.3 Today is a great day for Karl. He played the MegaBillions l...
(b) $10,000 (c) $2,000 (d) $8,000 1.3 Today is a great day for Karl. He played the MegaBillions lottery and won $32. In addition, while hanging out at Ho-Chunk Bingo and Casino he saw another patron drop an 818 credit voucher. He said noth- ing, calmly waited until they left, picked it up and put the voucher in his pocket. Assume Karl's value function is defined by v(x) for gains and v(x)3 for losses. What is the difference in the value of these outcomes in Karl integrates them, as opposed to the value he would get from segregating them? (a) +3 utils (b) +1 util (c) 0 (d) -1 util (e) -4 utils (f) none of the above are correct 1.4
(b) $10,000 (c) $2,000 (d) $8,000 1.3 Today is a great day for Karl. He played the MegaBillions lottery and won $32. In addition, while hanging out at Ho-Chunk Bingo and Casino he saw another patron drop an 818 credit voucher. He said noth- ing, calmly waited until they left, picked it up and put the voucher in his pocket. Assume Karl's value function is defined by v(x) for gains and v(x)3 for losses. What is the difference in the value of these outcomes in Karl integrates them, as opposed to the value he would get from segregating them? (a) +3 utils (b) +1 util (c) 0 (d) -1 util (e) -4 utils (f) none of the above are correct 1.4