Given the von Neumann-Morgenstern utility function u(w)={{r}^{-1}}{{w}^r} if r ∈ (0,1) and ln


Question: Given the von Neumann-Morgenstern utility function \(u\left( w \right)={{r}^{-1}}{{w}^{r}}\) if \(r\in \left( 0,1 \right)\) and \(\ln w\) if r = 0, prove that the measure of relative risk aversion is a constant.

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