1- Why the most important conclusions of economic theory are not robust to considerations of imperfect...

1- Why the most important conclusions of economic theory are not robust to considerations of imperfect information?

2- Describe how the insurance market works. Explain why this market may have no equilibrium.؟

3- Explain analytically how the separating equilibrium described by Rothschild and Stiglitz may not be Pareto optimal even relative to the information that is available. ؟

Expert Solution

Rahul Sunny answered 1 year ago

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