Question: - A Moving to another question will save this response. Question 7 What explanation does the book provide for the fact that people are loss-averse,

- A Moving to another question will save this response. Question 7 What explanation does the book provide for the fact that people are loss-averse, but still accept the sure loss of paying insurance? The vividness of the possibility of losing a big amount of money if they are uninsured leads people to overestimate their risk. The special value pseudo certainty has. O Social norms that favor having insurance. All of the above

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