Describe the meaning of a state of nature, and explain how this concept is used to provide expected measures of return and risk.

Finance

9. In 2003, several investment banking firms were fined $1.4 billion for ethics abuses related to the underwriting process. Will this be a deterrent for ethical lapses?

7. Describe the meaning of a state of nature, and explain how this concept is used to provide expected measures of return and risk.

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