Adverse selection is a theoretical problem; it doesn't actually appear in real insurance markets. But we're seeing it now in Obamacare.
@random_eddie "it doesn't actually appear in real insurance markets"
???
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@MorlockP I may be overstating it a bit. Rephrasing: insurance markets exist despite adverse selection making them theoretically impossible. -
@random_eddie I suggest that adverse selection is a matter of degree; at some pt it hits a positive feedback loop that dooms insurance.
End of conversation
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