Adverse Selection, Repeated Insurance Contracts and Annoucement Strategy
提出一种基于多期合同和自我选择机制的策略，促使投保人在第一期就宣布真实风险，从而消除逆向选择导致的低效率。
In this note, we present a strategy which relies on multi-period contracts and on a self-selection mechanism which induces the insured to announce his true risk in the first period, thus eliminating inefficiency due to adverse selection.