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Adverse selection

   Also found in: Medical, Wikipedia 0.04 sec.
Adverse selection
Refers to a situation in which sellers have relevant information that buyers lack (or vice versa) about some aspect of product quality.


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The premier issue includes articles on: possible adverse selection due to greater Medicare HMO enrollment; a game theoretical model of drug launch in India; the trade in human organs; cross-national comparisons of human resources for health; and, setting health care priorities.
The employee, of course, would like to be hired, and so has an incentive to appear more diligent during the interview than he really is; this fact complicates the employer's efforts to pick the sort of employee who will want to work hard, a phenomenon referred to as the adverse selection problem.
``We believe adverse selection is a significantly greater risk in the current environment of intensifying price competition than it was two-to-three years ago when Aetna put through higher rate increases to restore profitability.
 
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