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Competition policy in selection markets

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Title: Competition policy in selection markets
Authors: Mahoney, N
Veiga, A
Weyl, EG
Item Type: Working Paper
Abstract: Selection markets, like insurance and finance, where the value of customers depends on their identity, create fundamental challenges for competition policy. Competition is often harmful in these markets either by creating socially excessive supply or leading to degradation of product quality. Standard indicators used to gauge policies, such as upward pricing pressure, are also often mis-calibrated in these settings. We summarize for a policy audience and draw competition policy conclusions from two recent papers on the interaction between competition policy and selection, using calibrations to sub-prime auto lending and health insurance.
Issue Date: 21-Aug-2014
URI: http://hdl.handle.net/10044/1/77519
DOI: 10.2139/ssrn.2484738
ISSN: 1554-6853
Publisher: SSRN
Copyright Statement: © 2014 The Author(s)
Publication Status: Published
Appears in Collections:Imperial College Business School