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Which of the following statement is FALSE? Individuals' risk aversion is a key component in insurance pricing. The greater the degree of risk aversion, the

Which of the following statement is FALSE? Individuals' risk aversion is a key component in insurance pricing. The greater the degree of risk aversion, the lower the risk premium an individual will be willing to pay. Expected Utility (EU) theory is the foundation for decision-making under risk and uncertainty. All above are TRUE

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