Kenneth Arrow quote

In 1963 and later papers, I pointed out that the special market characteristics of medical care and medical insurance could be explained by reference to differences in information among the parties involved.
Kenneth Arrow

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Collected Papers of Kenneth J. Arrow, Volume 4: The Economics of Information (Collected Papers of Kenneth J. Arrow, Volume Four)
Collected Papers of Kenneth J. Arrow, Volume 4: The Economics of Information (Collected Papers of Kenneth J. Arrow, Volume Four)
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