I. Lumping & Splitting vs Pooling & Separating My goal in this short Essay is to show how an analytic vocabulary first developed to analyze insurance markets by Michael Rothschild and Joseph Stiglitz (some parallel ideas were developed by Michael Spence at roughly the same time) can shed light on a range of institutional design … Continue reading Getting People to Lump or Split Themselves: Pooling vs Separation by Peter Siegelman
↧