Model Examination for Exit Exam
wolaita sodo universitycollege of business and economicsdepartment of economics
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Tavsif
Suppose a man currently has 38,000 birr and he is considering taking a new but risky job that will increase his wealth to 50,000 birr with a likelihood of 0.6 if it succeeds but will reduce his wealth to 20,000 birr with a probability of 0.4 if it fails. The utility level associated with 38,000 birr is 20 and the utility level associated with an income of 20,000 birr and 50,000 birr is 15 and 30, respectively. The question asks for the expected utility of the new job and the type of risk.
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- 28.08.2025
