The Genetic Revolution Highlights the Importance of Nondiscriminatory and Comprehensive Health Insurance Coverage
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Kenneth Arrow, the economist whose 1963 article established the principles of modern health economics, once posed a parable to show the pernicious role that information can play in insurance markets. Suppose there are two islands, each with one farmer on it. The farmers know that a hurricane is coming that will wipe out one of their islands—but they don’t know which one. In that case, the farmers will naturally want to form an insurance arrangement, agreeing in advance that the farmer who gets wiped out will receive help from the farmer who escapes damage.
DepartmentMassachusetts Institute of Technology. Department of Economics; Sloan School of Management
American Journal of Bioethics
Informa UK Limited
Gruber, Jonathan. "The Genetic Revolution Highlights the Importance of Nondiscriminatory and Comprehensive Health Insurance Coverage." The American Journal of Bioethics 19, 10 (September 2019): 10-11 © 2019 Taylor & Francis Group
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