The Shifting Shape of Risk: Endogenous Market Failure for Insurance
This article considers an economy where risk is insurable, but selection determines the pool of individuals who take it up. First, we demonstrate that the comparative statics of these economies do not necessarily depend on its marginal selection (adverse versus favorable), but rather other character...
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| Format: | Article |
| Language: | English |
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MDPI AG
2017-01-01
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| Series: | Risks |
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| Online Access: | http://www.mdpi.com/2227-9091/5/1/9 |