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improvements. Under certain conditions, regulation that reduces the risk-taking incentives of a small set of institutions can …
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A service provider sells to homogenous risk-averse consumers through a two-part tariff. The consumers have uncertain …
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We characterize optimal IPO design in the distinct adverse selection problems: one affecting the IPO stage and one arising in the after-market. Allocating shares to an investor with superior information in the after-market depresses the share's value to less informed investors. However, because...
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