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Which of the following is true about risk aversion and loss aversion? Select all that apply. Loss aversion happens with losses, risk aversion can happen

Which of the following is true about risk aversion and loss aversion? Select all that apply. Loss aversion happens with losses, risk aversion can happen for losses or gains. People are more willing to take risks to avoid losses than to realize gains. When someone is risk averse, the satisfaction of winning $1 is greater than the satisfaction of winning $5. Risk averse individuals are more satisfied with smaller payoffs

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