Recall the risk-sharing problem illustrated in Figure 11.15. Show graphically that if Maria is less risk averse,

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Recall the risk-sharing problem illustrated in Figure 11.15. Show graphically that if Maria is less risk averse, she'll want to buy a larger fraction of the sunscreen concession (represented by a point to the right of point D).
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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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