Table 3.
R-squared and welfare loss measure for two models in relation to no risk adjustment
| Measure | No risk adjustment | Base model | Constrained model |
|---|---|---|---|
| R-squared | 0,000 | 0,226 | 0,129 |
| Welfare loss measure (ϕ) | 0,000 | 0,828 | 1,000 |
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