Peter Siegelman

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Adverse Selection in Insurance Markets: An Exaggerated Threat

113 Yale L.J. 1223 (2004) The phrase "adverse selection" was originally coined by insurers to describe the process by which insureds utilize private knowledge of their own riskiness when deciding to buy or forgo insurance. If A knows he will die tomorrow (but his insurer does not), life insurance that is priced to reflect the average risk of death in...