Regulation Design in Insurance Markets
将保险市场监管政策设计视为委托问题，研究监管者如何通过限制保险公司提供的合同菜单来利用其信息，并扩展了实际应用。
Regulators often impose rules that constrain the behavior of market participants. We study the design of regulatory policy in an insurance market as a delegation problem. A regulator restricts the menus of contracts an informed firm is permitted to offer, the firm offers a permitted menu to each consumer, and consumers choose contracts from offered menus. If consumer types and firm signals are ordered in a way that reflects coverage need, the regulator can leverage the firm’s information by forcing the firm to offer specified additional options on each menu. Several extensions illustrate the practical application of our results.