Three decision makers have assessed utilities for the problem whose payoff table appears below.                                                                                                                                                                                                                                                             State of Nature                                                                                                                                                                              Decision              s1              s2                                             s3 D1                          500           100                                         -400 D2                          200           150                                         100 D3                          -100          200                                         300                                                                                                                                                  Probability          0.2            0.6                                          0.2                                                                                                                                                                                                                                                                                                             Indifference Probability for Person                                                                                                                                                                                                                                                                                                                                                           Payoff          A                                 B                                   C 300               0.95                       0.68                                 0.45 200               0.94                       0.64                                 0.32 150               0.91                        0.62                                0.28 100               0.89                         0.6                                 0.22 -100             0.75                         0.45                               0.1                                                                                                                                                                                                                                                                                           Characterize each decision maker's attitude toward risk   Show all formulas and manual working with explanation not excel

Managerial Economics: A Problem Solving Approach
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Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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Three decision makers have assessed utilities for the problem whose payoff table appears below.                                                                                                                                                                                                                                                             State of Nature                                                                                                                                                                             

Decision              s1              s2                                             s3

D1                          500           100                                         -400

D2                          200           150                                         100

D3                          -100          200                                         300                                                                                                                                                 

Probability          0.2            0.6                                          0.2                                                                                                                                                                                                                                                                                                            

Indifference Probability for Person                                                                                                                                                                                                                                                                                                                                                          

Payoff          A                                 B                                   C

300               0.95                       0.68                                 0.45

200               0.94                       0.64                                 0.32

150               0.91                        0.62                                0.28

100               0.89                         0.6                                 0.22

-100             0.75                         0.45                               0.1                                                                                                                                                                                                                                                                                          

Characterize each decision maker's attitude toward risk 

 Show all formulas and manual working with explanation not excel

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