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- (P8-43) Jason Scott (see Problem 8-42) has decided to incorporate utility theory into his decision with his mortgage application. The following table describes Jason’s utility function:
(a) How can you best describe Jason’s attitude toward risk? Justify your answer.
(b) Will the use of utilities affect Jason’s original decision in Problem 8-42?
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A) Risk seeker.
B) No. Expected utility = 0.261.