Consider an individual whose utility function over income I is U(I), where U is increasing smoothly in I and is concave (in other words, our basic assumptions throughout this chapter). Let IS = 0 be this person's income if he is sick, let IH > 0 be his income if he is healthy, let p be his probability of being sick, let E[I] be expected income, and let E[U] be his expected utility when he has no insurance. a Write down algebraic expressions for both E[I] and E[U] in terms of the other parameters of the model.