What is the model that can adapted to underdeveloped country
Problem
What is the model that can be adapted to economically underdeveloped countries where environmental degradation is not the priority in the welfare of citizens or in economic policies?
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Assuming it is impossible to purchase insurance, compute this individual's expected utility. What would be his expected utility if he purchased full insurance?
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What is the model that can be adapted to economically underdeveloped countries where environmental degradation is not the priority in the welfare of citizens?
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