2. An art collector has a utility of wealth u(w) = ws - 1 for w>1 and u(w) 0 otherwise. a) Show that the art collector is: i) non-satiated and, ii) risk averse. b) Calculate the coefficients of risk aversion and explain what they convey. = [2 marks] [4 marks] please do both parts in 35 minutes please urgently... I'll give you up thumb definitely
2. An art collector has a utility of wealth u(w) = ws - 1 for w>1 and u(w) 0 otherwise. a) Show that the art collector is: i) non-satiated and, ii) risk averse. b) Calculate the coefficients of risk aversion and explain what they convey. = [2 marks] [4 marks] please do both parts in 35 minutes please urgently... I'll give you up thumb definitely
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