Business, Management and Accounting
4 years ago

Government-guaranteed subsistence levels reshape insurance markets, impacting coverage equilibria.

Journal of Risk & Insurance
<scp>Adverse Selection in an Insurance Market With Government‐Guaranteed Subsistence Levels</scp>
Bum J. Kim, Harris Schlesinger

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The article explores how government assistance affects insurance markets with adverse selection. Individuals with guaranteed minimum wealth from the government change their demand for insurance coverage, impacting market equilibria.