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Which sphincter is composed of smooth muscle between the ampulla of Vater and the duodenum?
Risk Aversion
A preference for guaranteed outcomes over those with uncertainty, even if the uncertain outcome might offer a higher expected return.
Utility from Insurance
The satisfaction or utility gained by individuals from reducing uncertainty and risk in their lives through the purchase of insurance contracts.
Income Increase
Income increase refers to the rise in an individual's or household's earnings, affecting their purchasing power and consumption habits.
Fair Insurance Policy
An insurance policy for which the premium is equal to the expected value of the claim.
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