English, Article, Journal or magazine article edition: On Rothschild-Stiglitz as Competitive Pooling Alberto Martin

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Bookmark: http://trove.nla.gov.au/version/154557
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • On Rothschild-Stiglitz as Competitive Pooling
Author
  • Alberto Martin
Physical Description
  • preprint
Notes
  • Dubey and Geanakoplos [2002] have developed a theory of competitive pooling, which incorporates adverse selection and signaling into general equilibrium. By recasting the Rothschild-Stiglitz model of insurance in this framework, they find that a separating equilibrium always exists and is unique. We prove that their uniqueness result is not a consequence of the framework, but rather of their definition of refined equilibria. When other types of perturbations are used, the model allows for many pooling allocations to be supported as such: in particular, this is the case for pooling allocations that Pareto dominate the separating equilibrium.
  • Competitive pooling, insurance, adverse selection, signalling, refined equilibrium, separating equilibrium
  • RePEc:upf:upfgen:917
Language
  • English
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