Market power can reduce the symptoms of adverse selection. To see the relationship, consider the incentive for a firm to offer a product that appeals to low-risk consumers and leads high-risk consumers to purchase insurance elsewhere. This incentive problem can be addressed through regulation...

The development of its people is one of the principal objectives of an economy. To the ambit that greater capabilities and opportunities will improve the productivity of people, human development is also expected to have a positive influence on economic growth. The primary objective of this...