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Moral Hazard, Market Power, and Second Best Health Insurance
Wigger, Berthold U.; Anlauf, Markus - 2002
Individual moral hazard engendered by health insurance and monopolistic production are both typical phenomena of drug … insurance against the risk of drug expenses. In contrast, the social welfare criterion suggests that individuals should purchase … more insurance coverage than they choose to do in the market equilibrium. …
Persistent link: https://www.econbiz.de/10010296968
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Self-interest, Social Wealth, and Competition as a Discovery Procedure : A classroom experiment that makes the "invisible hand" visible
Kirstein, Roland; Schmidtchen, Dieter - 2003
In Economics, as in any social science, empirical tests of theoretical results face a problem: researchers are unable to reproduce the whole economy (or at least its relevant parts) in their laboratories. Nowadays, Experimental Economics uses stylized experiments, drawing on the experience of...
Persistent link: https://www.econbiz.de/10010296887
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Markt und Marktwirtschaft
Kirstein, Roland - 2006
efficiency even if the strict assumptions of economic theory are not fulfilled. However, inefficiency can arise due to market …
Persistent link: https://www.econbiz.de/10010296937
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Wettbewerb als Entdeckungsverfahren
Schmidtchen, Dieter; Kirstein, Roland - 2001
Die Theorie des Wettbewerbs als Entdeckungsverfahren behauptet, daß die Ergebnisse des Wettbewerbes nicht vorhergesagt werden können, weil hierzu Tatsachen benötigt würden, die durch ihn erst entdeckt werden sollen. Dann wäre es allerdings unmöglich, Aussagen über Wettbewerb empirisch zu...
Persistent link: https://www.econbiz.de/10010296959