's deliveries are the same at all pools. The Rothschild-Stiglitz model of insurance is included as a special case. We show that by …

equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory of endogenous …

equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory of endogenous …

phenomena (including the Rothschild-Stiglitz insurance model) in a general equilibrium framework. In contrast to game … refined equilibrium always exists in our model, and that default, in conjunction with refinement, opens the door to a theory …

? This paper addresses these questions in the context of a Rothschild and Stiglitz insurance economy. We identify an …