PLATONI, SILVIA - In: Journal of Public Economic Theory 12 (2010) 3, pp. 501-532
The standard <link rid="b13">Rothschild and Stiglitz (1976)</link> and <link rid="b16">Wilson (1977)</link> analysis of adverse selection economies is extended to a particular model of annuity market which features both elements of moral hazard and adverse selection. Individuals are heterogeneous with respect to time preferences and they...