manufacturing firms to source materials from abroad. To guide our empirical analysis we develop a monopolistic-competition model of …

on existing theories of competition in markets with adverse selection. -- Asymmetric information ; competition ; adverse …

determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to … ; competition …

This paper documents the link between finance and informal competition. Using longitudinal firm-level data, we show … that formal firms that are more exposed to the competition of informal firms are less likely to apply for a bank loan. This … informal competition have worse expectations on future sales growth, which in turn are associated with a lower probability of …

competition for principals or agents. While we do observe substantial and significant ratchet effects in the baseline (no … competition) case of our model, we find that ratchet behavior is nearly eliminated by labor-market competition; interestingly this … is true regardless of whether market conditions favor principals or agents. -- Ratchet effect ; competition ; experiment …