When medical care prices and individual health needs follow stochastic processes with non-zero trends, community rating facilitates lifetime insurance and intergenerational risk sharing. While such policies are unsustainable in competitive private insurance markets, they provide the basis for...

The theory of auctions of a single object generalizes to a situation where identical objects are sold either sequentially or simultaneously but individuals can only buy one object. In this context, I will present a survey of the main results regarding the ranking of auctions based on revenue,...

I study the use of risk adjusters as a regulatory instrument for combatting cream-skimming incentives in a private health insurance market. It is assumed that insurance coverage is mandatory for all individuals, and that insurers must charge community-rated premiums - i.e., premiums independent...

What is the relationship between an agent's attitude towards information, and her attitude towards risk? if an agent always prefers more information does this imply that she obyes the independence axiom? We provide a substitution property on preferences that is equivalent to the agent...

The paper examines the nature of health insurance contracts when insurance companies are forced to pool high and low risk individuals. Insureres have an incentive to design contracts so as to attract only better brisks, and equilibrium contracts are generally characterised by less coevrage and...