We study competition in price-quality menus when consumers privately know their valuation for quality (type), and are … intensity, from perfect competition to monopoly. …

selection. We replicate their main finding and extend their design to include competition between agents. We find that … communication and competition act as “substitutes:” communication raises efficiency in the absence of competition but not with … competition, and competition raises efficiency without communication but lowers efficiency with communication. We briefly review …

There is a general presumption that competition is a good thing. In this paper we show that competition in the … insurance markets can be bad and that adverse selection is in general worse under competition than under monopoly. The reason is … competition in terms of the realization of the gains from trade across all traders in equilibrium. …

competition between certifiers, which lowers the certification fee, is not beneficial. This result complements Strausz (2005) who …