A person is trying to decide if they should buy a lottery ticket. The ticket costs $1.00. If the ticket is a winner, the prize would be $10,000. Knowing that winning $10,000 is not a certain outcome (state of nature), the person finds that the probability of winning is 0.0009. Based on this information, the following payoff table can be constructed. 
What is the value of perfect information?
Definitions:
National Culture
The set of norms, behaviors, beliefs, and customs that exist within the population of a sovereign nation.
Self-Awareness
Pertains to the conscious knowledge of one's own character, feelings, motives, and desires, playing a crucial role in emotional intelligence.
Self-Concept
The view individuals have of themselves as physical, social, spiritual, or moral beings.
Society
A group of individuals living together in a community or organized group, sharing common traditions, institutions, and values.
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