Adverse Selection
31Credit rationing — refers to the situation where lenders limit the supply of additional credit to borrowers who demand funds, even if the latter are willing to pay higher interest rates. It is an example of market imperfection, or market failure, as the price… …
32Information asymmetry — In economics and contract theory, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. This creates an imbalance of power in transactions which can sometimes cause… …
33Universal health care — is health care coverage which is extended to all eligible residents of a governmental region. Universal health care programs vary widely in their structure and funding mechanisms, particularly the degree to which they are publicly funded.… …
34insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …
35Nobel Prizes — ▪ 2009 Introduction Prize for Peace The 2008 Nobel Prize for Peace was awarded to Martti Ahtisaari, former president (1994–2000) of Finland, for his work over more than 30 years in settling international disputes, many involving ethnic,… …
36Contract theory — This article is about the economic analysis of contracts. For legal definitions and contract law, see Contract. For a less technical discussion of this topic, see Principal agent problem. In economics, contract theory studies how economic actors… …
37Georges Dionne — Portrait de Georges Dionne Naissance Saint Arsene (Canada) Champs Économie Finance Assurance …
38Health economics — For the journal, see Health Economics. Economics …
39Information economics — or the economics of information is a branch of microeconomic theory that studies how information affects an economy and economic decisions. Information has special characteristics. It is easy to create but hard to trust. It is easy to spread but… …
40Death spiral (insurance) — Death spiral is a term used to describe an insurance plan whose costs are rapidly increasing as a result of changes in the covered population. It is the result of adverse selection in insurance policies where lower risk policy holders choose to… …
