Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information
Michael Rothschild, Joseph E. Stiglitz
Abstract
Michael Rothschild, Joseph E. Stiglitz
Abstract
Introduction, 629.—I. The basic model, 630.—II. Robustness, 638—III. Conclusion, 648.
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Introduction, 629.—I. The basic model, 630.—II. Robustness, 638—III. Conclusion, 648.
Key concepts: Rothschild, Imperfect, Economics, Perfect information, Information economics, Positive economics, Law and economics, Sociology