Question: Q2 (10 marks). Consider the Prelec function w(p) = e-1.7(-Inp)0.75 . Con- sider only interior fixed points (so ignore the fixed points w(0) = 0

Q2 (10 marks). Consider the Prelec function w(p) = e-1.7(-Inp)0.75 .

Q2 (10 marks). Consider the Prelec function w(p) = e-1.7(-Inp)0.75 . Con- sider only interior fixed points (so ignore the fixed points w(0) = 0 and w(1) = 1). Let p be the probability corresponding to the point of inflection and p* the fixed point. What is the relation between the fixed point and the point of inflection

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