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Why would a person ever buy insurance knowing that the price is greater than the expected payout?

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Trinidad Tremblay
Trinidad TremblayLv2
2 Apr 2020
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Related questions

Why was stock bought on margin considered a risky investment?
 
A) Investors purchased the stocks with little cash down; if the price dropped the investor had to repay the loan.
B) Stocks purchased on margin were often for companies that had little or no value.
C) Investors paid high-interest rates to buy these stocks; they needed a substantial return to make money.
D) If the value of the stock declined, brokerages were responsible for the loss.

Case Study - 5

Breaking The Bargaining Pattern

Gilson steel is a local fabricating and supply firm. Situated in open country, far from the large steel making centers. The firm has been in business many years. About the third of employees have worked in the organization for more than ten years. Top management would like to get away from the current practice in which negotiations on wage matters and fringes follow the pattern. The firm’s president feels that industry – wide bargaining tends to divorce employees from the firm. He thinks they feel that their employer is a combination of U.S steel and bethlem steel instead of Gilson. He argues that the local firm which has prospered can do better by employees than is possible in national pattern. He says that the local conditions should be considered. His basic objection to current practice, however, is his conviction that it tends to divorce its employees from local employer. The labor relations manager has been urged to try negotiating terms at variance with the national pattern.

 Answer the following questions: ·

  1. What theory and policy do you read into the president’s suggestion? ·
  2. How will his ideas fit into the existing pattern of public union policy? ·
  3. Can you suggest a promising innovative approach?

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