Grossman, Herschel I. - In: Bell Journal of Economics 10 (1979) 1, pp. 336-343
Rothschild and Stiglitz have shown than insurance markets and other markets in which an adverse-selection problem exists cannot have Nash-type pooling or subsidized separating equilibria and are unlikely to have Nash-type unsubsidized separating equilibria. Wilson, Miyazaki, and Riley have...