In this paper we discuss the efficiency properties of insurance markets where supplementary private insurance is allowed to exist together with a compulsory government insurance plan. Our main conclusion, which is contrary to both those of Besley (1989) and Selden (1993), is that in a simple...

This paper considers whether private educational institutions can play an expanded role in helping attain society's objective with respect to the efficiency and equity of the system of post-secondary education. The authors focus on how public subsidies can be used to meet the social objectives...