Abstract
The combined effects of underwriting and adverse selection among heterogeneous populations are considered, using a simple Markov model. I illustrate the possible extent of the costs of adverse selection; in all cases, above-average sums assured is the most significant factor.
| Original language | English |
|---|---|
| Pages (from-to) | 1067-1075 |
| Number of pages | 9 |
| Journal | Philosophical Transactions of the Royal Society B: Biological Sciences |
| Volume | 352 |
| Issue number | 1357 |
| DOIs | |
| Publication status | Published - 29 Aug 1997 |
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