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Unformatted text preview: distribution (x, y) that Person i gets to choose over that would provide evidence of him having preferences as in part (a). For each comparison you give, make sure to explain which choice Person i would make and what we could conclude from that choice about the parameters ρ and σ for Person i. [Note here I am asking you to basically think of the experiments you could run and the choices Player i would have to make for you to conclude that the preferences are as an (a)]....
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This note was uploaded on 09/18/2011 for the course ECON 330 taught by Professor Sydnor during the Spring '11 term at Case Western.
- Spring '11