adverse selection
C2CEFR level
85/100Rarity: very rare
TechnicalRegister
The market failure that arises when hidden information draws in the worst risks and drives out the good ones.
Price the policy for the average customer and adverse selection leaves you only the sick ones.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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