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Splitting Risks in Insurance Markets With Adverse Selection

Abstract : We characterize the design of insurance schemes when policyhold- ers face several insurable risks in a context of adverse selection. Split- ting risks emerges as a feature of second-best Pareto-optimal alloca- tions. This may take the form of risk-speci…c contracts, or of con- tracts where risks are bundled, but subject to di⁄erential coverage rules such as risk speci…c copayments, combined with a deductible, an out-of-pocket maximum or a cap on coverage.
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Preprints, Working Papers, ...
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Submitted on : Friday, September 8, 2017 - 11:21:09 AM
Last modification on : Thursday, March 5, 2020 - 6:35:22 PM


Cahier n° 2017-01_PICARD v2.p...
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  • HAL Id : hal-01448322, version 4



Pierre Picard. Splitting Risks in Insurance Markets With Adverse Selection. 2017. ⟨hal-01448322v4⟩



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