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diminish asymmetric information. Using public auction data, we find that disclosures do not influence price in a segment of the … auction in which an implicit quality certification is available. However, in the other segment, we find evidence that some …
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This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
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, organised by grower-owned co-operatives. In the 1990s several auction co-operatives merged, transformed into marketing co …
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