Supplement to "Perfect Competition in Markets with Adverse Selection"

This appendix shows that our price-taking equilibrium concept corresponds to the limit of Bertrand competition between firms selling differentiated varieties of each contract.  Here, we consider the case where each firm offers one contract.  In the supplementary material, we consider the case where each firm offers a menu of contracts.

Supplemental Authors: 
Azevedo, Eduardo - Wharton
Gottlieb, Daniel - London School of Economics
Online Appendix

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