The globalization, the fast technological development, networking, constant learning and acquiring of new knowledge are main references of today’s information society. In the flood of new information, individual must be able to recognize and to use the information on the right way. Search,...

Economic reality of everyday life places the consumer in an objectively unbalanced report in favor of the producer/trader, even if the first, with his needs, should be both the origin and the final point of production activity. In this context, the present paper contains an analysis of the...

We consider an imperfectly competitive loan market in which a local relationship lender has an information advantage vis-à-vis distant transaction lenders. Competitive pressure from the transaction lenders prevents the local lender from extracting the full surplus from projects, so that she...

We consider an imperfectly competitive loan market in which a local relationship lender has an information advantage vis-à-vis distant transaction lenders. Competitive pressure from the transaction lenders prevents the local lender from extracting the full surplus from projects, so that she...

We develop a two-person negotiation model with complete information which makes endogenous both the deadline and the level of surplus destruction after the deadline. We show that the equilibrium outcome is always unique but might be inefficient. Moreover, as the bargaining period becomes short...

Does asymmetric information matter in insurance markets? Recent evidence on the automobile insurance market suggests not, rejecting the separating equilibnum of the Rothschild-Stiglitz model. However, I show that a two-penod version of that model can sustain a pooling equilibrium with experience...