occurs in a transaction when two parties have different levels of information coverage regarding the agreement that allows one of them to gain a massive advantage in an agreement. Adverse selection ...

Adverse selection, a concept economists devised to explain insurance market failures, might seem far removed from the grand chessboard of geopolitics. Yet at its core lies a simple and unsettling ...

Here are the key figures. 59 percent of non-elderly adults who selected an exchange plan were older than 45, compared to just 32 percent of the uninsured population: a skew of 27 percent. On the other ...

The present paper thoroughly explores second-best efficient allocations in an insurance economy with adverse selection. We start with a natural extension of the classical model, assuming less than ...

This article uses unique data from the London Stock Exchange to examine how trader anonymity and market liquidity affect dealers' decisions about where to place interdealer trades. During our sample ...