Why do people choose to buy insurance even if their expected loss is less than the payments

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Why do people choose to buy insurance even if their expected loss is less than the payments they will make to the insurance company?

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Financial Markets and Institutions

ISBN: 978-0133423624

8th edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

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Question Posted: May 23, 2018 01:22 AM

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Why do people choose to buy insurance even if their expected loss is less than the payments

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Financial Markets and Institutions

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