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Multidimensional screening in insurance markets with adverse selection

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      <subfield code="a">Crocker, Keith J.</subfield>
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      <subfield code="a">Multidimensional screening in insurance markets with adverse selection</subfield>
      <subfield code="c">Keith J. Crocker, Arthur Snow</subfield>
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      <subfield code="a">Bundled coverage of different losses and distinct perils, along with differential deductibles and policy limits, are common features of insurance contracts. We show that, through these practices, insurers can implement multidimensional screening of insurance applicants who possess hidden knowledge of their risks, and thereby reduce the externality cost of adverse selection. Competitive forces drive insurers to exploit multidimensional screening, enhancing the efficiency of insurance contracting. Moreover, multidimensional screening allows competitive insurance markets to attain pure strategy Nash equilibria over a wider range of applicant pools, resolving completely the RothschildStiglitz nonexistence puzzle in markets where the perils space is sufficiently divisible. </subfield>
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      <subfield code="a">Contrato de seguro</subfield>
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      <subfield code="a">Obligaciones del asegurado</subfield>
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      <subfield code="a">Selección de riesgos</subfield>
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      <subfield code="a">Selección adversa</subfield>
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      <subfield code="w">MAP20077000727</subfield>
      <subfield code="t">The Journal of risk and insurance</subfield>
      <subfield code="d">Nueva York : The American Risk and Insurance Association, 1964-</subfield>
      <subfield code="x">0022-4367</subfield>
      <subfield code="g">01/06/2011 Tomo 78 Número 2  - 2011 </subfield>
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