Information, Risk, and Insurance
Discover how imperfect information can affect equilibrium price and quantity, explore mechanisms to reduce risk of imperfect information, and learn about government and social insurance in the context of insurance and risk management.
Introduction to Information, Risk, and Insurance
The Problem of Imperfect Information and Asymmetric Information
"Lemons" and Other Examples of Imperfect Information
How Imperfect Information Can Affect Equilibrium Price and Quantity
When Price Mixes With Imperfect Information About Quality
Mechanisms to Reduce the Risk of Imperfect Information
Key Concepts and Summary
Insurance and Imperfect Information
How Insurance Works
Government and Social Insurance
Risk Groups and Actuarial Fairness
The Moral Hazard Problem
The Adverse Selection Problem
U.S. Health Care in an International Context
Government Regulation of Insurance
The Patient Protection and Affordable Care Act
Key Concepts and Summary