OBVIOUSLY YOU SHOULD BUY LOSS/DAMAGE INSURANCE THIS RENTAL CAR IS WORTH $25000; INSURANCE HAS NEGATIVE EXPECTED VALUE SO YOU SHOULD ONLY BUY IT TO AVOID A RUINOUS LOSS (AND $25000 MAY NOT BE A RUINOUS LOSS FOR YOU). 1. MAYBE YOU'RE A WORSE-THAN-AVERAGE DRIVER. IF YOU DON'T OWN A CAR, YOU PROBABLY ARE. 2. (IN GROUPS) APPORTIONING BLAME EX-POST HAS A HIGHER EMOTIONAL COST THAN DISTRIBUTING RISK EX-ANTE. 3. THE GAME IS RIGGED: THE RENTAL COMPANY DETERMINES IF A LOSS OCCURRED AND THE SCALE OF THE LOSS. 4. INSURANCE COMPANIES ARE BETTER AT SUING OTHER DRIVERS (SETTLING WITH OTHER INSURERS).
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