for both moral hazard and adverse selection. Patients' severity changes over time following a stochastic process and is …

retained on the bank's balance sheet, suggesting no adverse selection or moral hazard within the Chinese securitization market …

consumer and producer surplus and external costs. This paper provides an overview of conceptual strategies to deal with moral …. In a stylised model, new expressions for first-best Pigouvian taxes are developed that depend on moral considerations. A … novel moral ruleof-half approximation is provided for the potential surplus gains of taxation or behavioural change. …