232 | Amy Finkelstein on Adverse Selection and Hidden Information
From Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas
Published 4/10/2023
From Sean Carroll's Mindscape: Science, Society, Philosophy, Culture, Arts, and Ideas
Published 4/10/2023
If you knew exactly when every person was going to die, or require medical care, you could make a killing buying and selling insurance. Nobody knows these things, of course -- the future is hard to predict -- but some people know something about the future that other people don't. This sets up…