Question: Please write (or type) your answers on a separate piece of paper. Also write the names of any classmates you collaborated with. Turning in the

Please write (or type) your answers on a separate piece of paper. Also write the names of any classmates you collaborated with. Turning in the questions is not required, just your answers. Problem 1 (30 points): Tim and Randy both have simple "prospect-theoretic" preferences for money (m) relative to their reference point (r). Both have preferences of the following form: V (m, r) = mr when mer A(m-r) whenm

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