Economics, Econometrics and Finance
8 years ago

Imperfect Information in Insurance Markets: How It Affects Your Wallet

The Quarterly Journal of Economics
Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information
Michael Rothschild, Joseph E. Stiglitz

Paper Summary

The article discusses how insurance markets work when people don't have all the information they need. The researchers show that in these situations, insurance companies might not offer the best deals to customers. They explain that this can lead to problems in the market.

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