This paper reconsiders the Rothschild-Stiglitz insurance market model by information theory. The seminal work by … Rothschild and Stiglitz (1978) has become one of the standard models of insurance markets. However, there are a couple of issues … indifference curves of the insurance consumers' utility functions which could be difficult to obtain empirically. This paper …

private insurance markets offer full coverage at fair rates, social insurance is desirable if and only if risk and … examine the role of uniform and nonuniform social insurance to supplement a general income tax when neither public nor private … (1971) equilibrium emerges in the private insurance market and low-wage/low-risk individuals are not fully insured. We show …

men and women in the calculation of insurance premiums, is founded upon a fallacious understanding of the nature of … actuarial calculations and the morality of 'discriminatory' calculations where state provision of insurance has traditionally …

In this article, we establish a model of competitive insurance markets based on Rothschild and Stiglitz (1976) where … insurers can perform risk classification tests either before insurance contracts are issued (underwriting) or when coverage … claims are filed (post-loss test). However, insurers cannot pre-commit to performing either test in the insurance application …