Question: = A person's value function is u(x) = Vx/3 for gains and v(x) -37x/3] for losses. This person is facing the choice between a sure

= A person's value function is u(x) = Vx/3 for gains

= A person's value function is u(x) = Vx/3 for gains and v(x) -37\x/3] for losses. This person is facing the choice between a sure 3 and a gamble. The gamble pays 6 with probability of 0.60 and 2 with probability of 0.4. If this person takes the worse possible outcome as his/her reference point, what is the value of the gamble

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