You are the chief appraiser for a large art dealer in a major American city. You are offered a chance to examine, and buy, a work of art.

You are the chief appraiser for a large art dealer in a major American city. You are offered a chance to examine, and buy, a work of art. You have reason to believe that it is a piece from a famous artist of the 15th century that has been lost to the art world for hundreds of years. Such apainting would have an estimated market value of $1 million. However, you face two risks. First,the painting may be a forgery, a chance that you estimate to be .4. Second, even if the painting isauthentic it may be stolen. Once you buy the painting, you bear all risk. If it is a fake, its value is $0. If it proves to be stolen (a .2 risk in your estimation), you must return the painting to its rightful owner and you cannot recover the purchase price.You have the chance to buy the painting for $500,000. As a risk-neutral decision maker,should you make the purchase?

Show more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10