TY  - UNPD
A1  - Gemmo, Irina
A1  - Kubitza, Christian
A1  - Rothschild, Casey G.
T1  - The existence of the Miyazaki-Wilson-Spence equilibrium with continuous type distributions
N2  - We prove the existence of an equilibrium in competitive markets with adverse selection in the sense of Miyazaki (1977), Wilson (1977), and Spence (1978) when the distribution of unobservable risk types is continuous. Our proof leverages the finite-type proof in Spence (1978) and a limiting argument akin to Hellwig (2007)’s study of optimal taxation.
T3  - ICIR Working Paper Series - No. 32/2018 [11.18] 
KW  - asymmetric and private information
KW  - insurance market
KW  - adverse selection
KW  - equilibrium
Y1  - 2018
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/77143
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-771436
PB  - International Center for Insurance Regulation
CY  - Frankfurt am Main
ER  -