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An evolutionary analysis of insurance markets with adverse selection

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  • Ania, Ana B.
  • Troger, Thomas
  • Wambach, Achim

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 40 (2002)
Issue (Month): 2 (August)
Pages: 153-184

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Handle: RePEc:eee:gamebe:v:40:y:2002:i:2:p:153-184

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Web page: http://www.elsevier.com/locate/inca/622836

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References

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  1. Schlag, Karl H., 1998. "Why Imitate, and If So, How?, : A Boundedly Rational Approach to Multi-armed Bandits," Journal of Economic Theory, Elsevier, Elsevier, vol. 78(1), pages 130-156, January.
  2. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, Econometric Society, vol. 61(1), pages 57-84, January.
  3. Fernando Vega-Redondo, 1997. "The Evolution of Walrasian Behavior," Econometrica, Econometric Society, Econometric Society, vol. 65(2), pages 375-384, March.
  4. Gale, D. & Rosental, R.W., 1996. "Experimentation, Imitation, and Stochastic Stability," Papers, Boston University - Industry Studies Programme 65, Boston University - Industry Studies Programme.
  5. Riley, John G, 1979. "Informational Equilibrium," Econometrica, Econometric Society, Econometric Society, vol. 47(2), pages 331-59, March.
  6. Rothschild, Michael & Stiglitz, Joseph E, 1976. "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 90(4), pages 630-49, November.
  7. Binmore, Ken & Samuelson, Larry, 1997. "Muddling Through: Noisy Equilibrium Selection," Journal of Economic Theory, Elsevier, Elsevier, vol. 74(2), pages 235-265, June.
  8. Hellwig, Martin, 1987. "Some recent developments in the theory of competition in markets with adverse selection ," European Economic Review, Elsevier, vol. 31(1-2), pages 319-325.
  9. Hellwig, Martin F., 1988. "A note on the specification of interfirm communication in insurance markets with adverse selection," Journal of Economic Theory, Elsevier, Elsevier, vol. 46(1), pages 154-163, October.
  10. Spence, A Michael, 1973. "Job Market Signaling," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 87(3), pages 355-74, August.
  11. Asheim, G.B. & Nilssen, T., 1995. "Non-Discriminating Renogociation in a Competitive Insurance Market," Memorandum, Oslo University, Department of Economics 03/1995, Oslo University, Department of Economics.
  12. Hans Jørgen Jacobsen & Mogens Jensen & Birgitte Sloth, 1998. "Evolutionary Learning in Signalling Games," CIE Discussion Papers, University of Copenhagen. Department of Economics. Centre for Industrial Economics 1999-14, University of Copenhagen. Department of Economics. Centre for Industrial Economics, revised Sep 1999.
  13. Inderst, Roman & Wambach, Achim, 2001. "Competitive insurance markets under adverse selection and capacity constraints," European Economic Review, Elsevier, vol. 45(10), pages 1981-1992, December.
  14. Jaynes, Gerald David, 1978. "Equilibria in monopolistically competitive insurance markets," Journal of Economic Theory, Elsevier, Elsevier, vol. 19(2), pages 394-422, December.
  15. Huck, Steffen & Normann, Hans-Theo & Oechssler, Jorg, 1999. "Learning in Cournot Oligopoly--An Experiment," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 109(454), pages C80-95, March.
  16. Ellison, Glenn, 2000. "Basins of Attraction, Long-Run Stochastic Stability, and the Speed of Step-by-Step Evolution," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 67(1), pages 17-45, January.
  17. Dasgupta, Partha & Maskin, Eric, 1986. "The Existence of Equilibrium in Discontinuous Economic Games, II: Applications," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 53(1), pages 27-41, January.
  18. Noeldecke,Georg & Samuelson,Larry, . "An evolutionary analysis of backward and forward induction," Discussion Paper Serie B 228, University of Bonn, Germany.
  19. Spence, Michael, 1978. "Product differentiation and performance in insurance markets," Journal of Public Economics, Elsevier, Elsevier, vol. 10(3), pages 427-447, December.
  20. Ana B. Ania & Carlos Alós-Ferrer & Klaus R. Schenk-Hoppé, 1998. "- An Evolutionary Model Of Bertrand Oligopoly," Working Papers. Serie AD, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) 1998-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  21. Herschel I. Grossman, 1979. "Adverse Selection, Dissembling, and Competitive Equilibrium," Bell Journal of Economics, The RAND Corporation, The RAND Corporation, vol. 10(1), pages 336-343, Spring.
  22. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 58, pages 211.
  23. Wilson, Charles, 1977. "A model of insurance markets with incomplete information," Journal of Economic Theory, Elsevier, Elsevier, vol. 16(2), pages 167-207, December.
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Cited by:
  1. Michael Hoy & Michael Ruse, 2008. "“No Solution to This Dilemma Exists”: Discrimination, Insurance, and the Human Genome Project," Working Papers, University of Guelph, Department of Economics and Finance 0808, University of Guelph, Department of Economics and Finance.
  2. Wanda Mimra & Achim Wambach, 2011. "A Game-Theoretic Foundation for the Wilson Equilibrium in Competitive Insurance Markets with Adverse Selection," CESifo Working Paper Series 3412, CESifo Group Munich.
  3. Cannon, Edmund & Cipriani, Giam Pietro & Bazar-Rosen, Katia, 2014. "Surprising Selection Effects in the UK Car Insurance Market," IZA Discussion Papers 8172, Institute for the Study of Labor (IZA).
  4. Kesternich, Iris & Schumacher, Heiner, 2009. "On the Use of Information in Repeated Insurance Markets," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 280, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  5. Wilfredo Leiva Maldonado & Adolfo Sachsida, 2012. "Group Characteristics Evolution Arising from Asymmetric Information," Economia, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 13(2), pages 247_269.
  6. Alos-Ferrer, Carlos, 2004. "Cournot versus Walras in dynamic oligopolies with memory," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 22(2), pages 193-217, February.
  7. Raduna, Daniela Viviana & Roman, Mihai Daniel, 2011. "Risk aversion influence on insurance market," MPRA Paper 37725, University Library of Munich, Germany, revised 01 Feb 2012.
  8. Strauss, Jason, 2007. "Equilibrium in the Insurance Industry: Price and Probability of Insolvency," MPRA Paper 11015, University Library of Munich, Germany.

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