Insurance contracts with imprecise probabilities and adverse selection
AbstractThis article deals with optimal insurance contracts in the framework of imprecise probabilities and adverse selection. Agents differ not only in the objective risk they face but also in the perception of risk. In monopoly, a range of configurations that VNM preferences preclude appears: a pooling contract may be optimal, incomplete coverage may be offered to high risks, low risks may be better covered. Copyright Springer-Verlag Berlin/Heidelberg 2004
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 23 (2004)
Issue (Month): 4 (May)
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Other versions of this item:
- Meglena Jeleva & Bertrand Villeneuve, 1997. "Insurance Contracts with Imprecise Probabilities and Adverse Selection," Working Papers 97-16, Centre de Recherche en Economie et Statistique.
- Jeleva, Meglena & Villeneuve, Bertrand, 2004. "Insurance contracts with imprecise probabilities and adverse selection," Economics Papers from University Paris Dauphine 123456789/5358, Paris Dauphine University.
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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