Examlex
Regarding the textbook's discussion of the benefits and limits of control, the authors seem to make the suggestion that optimal health may require:
Probability
A measure quantifying the likelihood of a specific event occurring, often expressed as a number between 0 and 1.
Von Neumann-Morgenstern Utility Function
A utility function that assumes individuals can rank their preferences under uncertainty, used in expected utility theory to describe choices.
Insurance
A financial product that provides protection against financial loss or harm, in exchange for the payment of a premium.
Probability
A numeric representation ranging from 0 to 1 that describes the chance of an event taking place, where 0 is an event that won't occur and 1 is an event that is guaranteed.
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