1 The term 'intuition-based judgment' as applied to the example of a patch of lily pads doubling in size each day refers to: Group of answer choices...
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1 The term "intuition-based judgment" as applied to the example of

a patch of lily pads doubling in size each day refers to:
Group of answer choices
the effect of health insurance on individual and household consumption decisions.
the limitations that cognitive bias in the brain places on economic decision-making.
a preference reversal that depends on whether an outcome is presented as risk-averse or risk-seeking.
the effect of "fast" versus "slow" cognitive systems in the brain on health behaviors.


2 The term "risk reduction" refers to:
Group of answer choices


the financial payoff from an insurance policy in the event of a loss.


the reduction in utility experienced by risk-averse individuals when they purchase insurance.


actions that reduce the likelihood that an insured event occurs.


the reduction in Medicare payments that results from poor scores on patient risk measures.


3 After a loss, an insurance company  
Group of answer choices




can take credit for reducing the risk of the event the owner of the insurance contract experienced.


ignores the owner of the insurance contract.


unencomburs the owner of the insurance contract.


indemnifies the owner of the insurance contract for the financial loss.

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