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Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
Edition 12ISBN: 978-1133189022 Exercise 34
Why does the assumption of diminishing marginal utility of income imply risk aversion? Can you think of other assumptions that would result in risk-averse behavior (such as the purchase of insurance) but would not require the difficult-to-verify notion of diminishing marginal utility?
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Diminishing marginal utility of income s...
Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder
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