We solve the principal-agent problem of a monopolist insurer selling to an agent whose riskiness (loss chance) is private information, a problem introduced in Stiglitz's (1977) seminal paper. For an \emph{arbitrary} type distribution, we prove several properties of optimal menus, such as...

We study a general screening model that encompasses a health insurance market in which consumers have multiple dimensions of private information and a price-setting insurer (e.g., a monopolist or a social planner) offers vertically differentiated contracts. We combine theory and empirics to...

We solve the principal-agent problem of a monopolist insurer selling to an agent whose riskiness (chance of a loss) is private information, a problem introduced in Stiglitz (1977)'s seminal paper. We prove several properties of optimal menus: the highest type gets full coverage (efficiency at...