Janssen, Maarten C. W.; Karamychev, Vladimir A. - 2001
dynamic contracts. An unconditional dynamiccontract has insurance companies offeringcontracts where the terms of the contract … differ in their accidentalexpenditures, then dynamic insurance contracts yield a welfareimprovement only if dynamic contracts …We take a dynamic perspective on insurance markets under adverseselection and study a generalized Rothschildand …