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In general,people are willing to pay more than the expected value of insurance because:
Formal Written Documents
Text materials that follow a specific structure and convention, often used for official, legal, or ceremonial purposes.
Impression Management
Strategies and behaviors individuals use to influence how others perceive them.
Meta-Communication
Communication about communication, which involves discussing or analyzing the way in which information is exchanged, including tone, non-verbal cues, and implicit messages.
Face-Saving
A social or psychological strategy employed to maintain dignity, avoid embarrassment, or preserve reputation after a mistake or failure.
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