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You are a property insurer and one of your potential clients, whose current wealth is $450,000, wants to insure her $250,000 house. The chances of the house burning down in any given year are one in one thousand. There are no other risks. Will she buy insurance from you if you set the premium at $300? Assume that her utility function is u(W) = ln(W) . How sensitive is the maximum premium she is willing to pay to her current wealth? Calculate the elasticity of the premium to wealth to ?nd out. (Hint: In class we refer to the Markowitz risk premium as the difference between expected wealth and the certainty equivalent, E (W) - CE , which is valid only for fair gambles. In this case, the gamble is not fair, so you should compute the insurance premium as the cost of the gamble, namely, W0 - CE .)
write a term paper on modelling and multicollinearity
a) Design a simple econometric project to identify the factors that affect the demand for a good or service of your preference. Estimate the significance of these factors using mu
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suppose only one professor teaches economics at your university, would you say that this prof is a monopolist who can exact any price from students in the form of readings assigned
Can you explain the basic introduction of this methodology?
The firm is considering manufacturing a second product in its factory alongside the first. The demand functions for the two products are: Q d1 =180 - 4P 1 Q d2 =90
Over the next two years, Susan's income will be $33,000 in the first year and $33,000 in the second year. She can both borrow and lend money at the 10% of annual interest. (a) W
A store is known for is bargains. The store has the habit of lowering the price of its bargains each day, to ensure that articles are sold fast. Assume that you spot an item on Wed
Greenstone Coffee is experiencing financial pressures due to increased competition for its numerous urban coffee shops. Total sales revenue has dropped by 15% and the company wishe
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