Question: thank you for teaching! probability 0.0, 22 with probability 0.4! 2. (2 points) Suppose ~ is a preference over lotteries of two prizes z1, Z2

thank you for teaching!

probability 0.0, 22 with probability 0.4! 2. (2 points) Suppose ~ is a preference over lotteries of two prizes z1, Z2 that satisfies the A2 axiom (substitution). Suppose we are given that 21 > 22. Show that the lottery [(z1; 0.9), (22, 0.1)] is strictly preferred to the lottery [(z1; 0.7), (z2, 0.3)] by breaking the lotteries into compound lotteries with a common lottery on the left branch and different pure prizes on the right branch

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2. Value-oriented information and

1. Empirical or factual information,

1. To take in the necessary information,