In the case that c=0, this implies that U1(r-pl,0)=U1(r-pl,D) What does this imply about the value of /? What does this tell you about betting on sports events? How about insuring the death of child parent, etc.In the case that c  0, this implies that: U1Y  pI, 0  U1Y  pI,L What does this imply about the value of I? What does this tell you about betting on sports events? How about insuring the death of child, parent, etc.?