You are proposed to accept or reject a lottery which gives X with probability 1/3 and -1 with probability 2/3. Before accepting you receive a signal “g” (good) or “b” (bad). The signal has precision q=P(g|win)=P(b|lose)>1/2.Suppose you choose between accepting and rejecting the lotterywithout the signal. What is the value of your choice V (X) as a function ofX? In other words, this is the value you get taking your choice into account.Draw V (X) on a graph.Now suppose you take signal into account. What is the valueVs(X) of your choice before you see the signal? Draw it on the graph.What is the value of the signal as a function of X. Specify anddraw it on the graph.
Why Choose Us
- 100% non-plagiarized Papers
- 24/7 /365 Service Available
- Affordable Prices
- Any Paper, Urgency, and Subject
- Will complete your papers in 6 hours
- On-time Delivery
- Money-back and Privacy guarantees
- Unlimited Amendments upon request
- Satisfaction guarantee
How it Works
- Click on the “Place Order” tab at the top menu or “Order Now” icon at the bottom and a new page will appear with an order form to be filled.
- Fill in your paper’s requirements in the "PAPER DETAILS" section.
- Fill in your paper’s academic level, deadline, and the required number of pages from the drop-down menus.
- Click “CREATE ACCOUNT & SIGN IN” to enter your registration details and get an account with us for record-keeping and then, click on “PROCEED TO CHECKOUT” at the bottom of the page.
- From there, the payment sections will show, follow the guided payment process and your order will be available for our writing team to work on it.