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Efficient Nash Equilibrium under Adverse Selection
Diasakos, Theodoros M; Koufopoulos, Kostas - Scottish Institute for Research in Economics (SIRE) - 2013
This paper revisits the problem of adverse selection in the insurance market of Rothschild and Stiglitz [28]. We propose a simple extension of the game-theoretic structure in Hellwig [14] under which Nash-type strategic interaction between the informed customers and the uninformed firms results...
Persistent link: https://www.econbiz.de/10010877109
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Efficient Nash Equilibrium under Adverse Selection
Diasakos, Theodoros M.; Koufopoulos, Kostas - School of Economics and Finance, University of St. Andrews
This paper revisits the problem of adverse selection in the insurance market of Rothschild and Stiglitz (QJE, 1976). We propose a simple extension of the game-theoretic structure in Hellwig (EER, 1987) under which Nash-type strategic interaction between the informed customers and the uninformed...
Persistent link: https://www.econbiz.de/10010904139
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Is Asia Prepared for An Aging Population?
Heller, Peter S. - International Monetary Fund (IMF) - 2006
Many Asian countries (such as China, Singapore, Korea, Thailand, Malaysia, Indonesia, India, and the Philippines) will experience a significant aging of their populations during the next several decades. This paper explores how these aging Asian countries are addressing and anticipating the...
Persistent link: https://www.econbiz.de/10005248253
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Efficient Nash Equilibrium under Adverse Selection
Diasakos, Theodoros M.; Koufopoulos, Kostas - Collegio Carlo Alberto, Università degli Studi di Torino - 2011
This paper revisits the problem of adverse selection in the insurance market of Rothschild and Stiglitz (1976). We propose a simple extension of the game-theoretic structure in Hellwig (1987) under which Nash-type strategic interaction between the informed customers and the uninformed firms...
Persistent link: https://www.econbiz.de/10009251221
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What Should Macroeconomists Know About Health Care Policy: A Primer
Hsiao, William C. - International Monetary Fund (IMF) - 2000
This primer aims to provide IMF macroeconomists with the essential information they need in situations where they must address issues concerning health sector policy and when they have significant macroeconomic implications. Such issues can also affect equity and growth and are fundamental to...
Persistent link: https://www.econbiz.de/10005825737
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What Should Macroeconomists Know About Health Care Policy?
Heller, Peter S. - International Monetary Fund (IMF) - 2007
This primer aims to provide IMF macroeconomists with the essential information they need to address issues concerning health sector policy, particularly when they have significant macroeconomic implications. Such issues can also affect equity and growth and are fundamental to any strategy of...
Persistent link: https://www.econbiz.de/10005599256
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An Evolutionary Analysis of Insurance Markets Under Adverse Selection.
Ania, A.B.; Troger, T.; Wambach, A. - Olin School of Business, Washington University in St. Louis - 1998
Since the seminal work by Rothschild and Stiglitz on competitive insurance markets under adverse selection the problem of non-existence of equilibrium hat puzzled many economists. In this paper we approach this problem from an evolutionary point of view. In a dynamic model insurance companies...
Persistent link: https://www.econbiz.de/10005646685
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ГОСУДАРСТВЕННОЕ РЕГУЛИРОВАНИЕ VERSUS КОНКУРЕНЦИЯ НА СТРАХОВОМ РЫНКЕ
НАСЫРОВА Г. А. - In: Проблемы современной экономики (2013) 3, pp. 111-116
В статье рассматриваются вопросы взаимодействия государственного регулирования и конкуренции как формы рыночного регулирования. На страховом рынке в...
Persistent link: https://www.econbiz.de/10011231910
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Communication & competition
Goeree, Jacob; Zhang, Jingjing - In: Experimental Economics 17 (2014) 3, pp. 421-438
selection. We replicate their main finding and extend their design to include competition between agents. We find that … communication and competition act as “substitutes:” communication raises efficiency in the absence of competition but not with … competition, and competition raises efficiency without communication but lowers efficiency with communication. We briefly review …
Persistent link: https://www.econbiz.de/10010988995
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Harmful competition in insurance markets
De Feo, Giuseppe; Hindriks, Jean - In: Journal of Economic Behavior & Organization 106 (2014) C, pp. 213-226
There is a general presumption that competition is a good thing. In this paper we show that competition in the … insurance markets can be bad and that adverse selection is in general worse under competition than under monopoly. The reason is … competition in terms of the realization of the gains from trade across all traders in equilibrium. …
Persistent link: https://www.econbiz.de/10010930934