A risk-preferring agent will most likely not buy insurance unless it has a

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A risk-preferring agent is someone who is willing to take on more risk than the average person. They prefer to take a chance and potentially gain more than to play it safe and avoid losses. Therefore, they are less likely to purchase insurance unless it has a low price, as they perceive the cost of potential loss as less significant than the cost of the insurance premium.

A Risk-Preferring Agent Will Most Likely Not Buy Insurance Unless