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Suppose There Are Two Jars 1I1 \mathrm{I} Know That There Are 10 White Balls and Either 5

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Suppose there are two jars. In Jar 1I1 \mathrm{I} know that there are 10 white balls and either 5 or 20 black balls. In Jar 2 I know that there are 10 red balls and either 10 or 30 black balls. I receive $5\$ 5 if a white ball is drawn from jar 1 and $10\$ 10 if a red ball is drawn from jar 2 and 0 otherwise.
a. Suppose that I am risk-neutral. Using maxmin expected utility theory, do I draw from jar 1 or jar 2 and what is the value of my maxmin expected utility?
b. Now suppose I am risk-averse, with a utility function given by U(x)=ln(x)U(x)=\ln (x) . Do I choose Jar 1 or Jar 2 ?

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A. I use the lowest possible values for ...

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