Adverse Selection and (un)Natural Monopoly in Insurance Markets
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https://www.nber.org/papers/w33187
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Adverse selection is a classic market failure known to limit or unravel' trade in high-quality insurance and many other economic settings. While the standard theory emphasizes quality distortions, we argue that selection has another big-picture implication: it unravels competition among
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美国国家经济研究局创建时间：
2024-11-01
