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Lecture 5 Consumer Choice under uncertainty - PowerPoint PPT Presentation

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Lecture 5 Consumer Choice under uncertainty

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... is the risky alternative that give Lk with probability ... Problem: the expected utility theory delivers implausible excessive degree of risk aversion! ... – PowerPoint PPT presentation

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Date added: 1 January 2010
Slides: 27
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Learn more at: http://personal.rhul.ac.uk
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