Similar Search Results

Sorting versus screening in decentralized markets with adverse selection

Auster, Sarah; Gottardi, Piero - 2022

We study the role of traders' meeting capacities in decentralized markets with adverse selection. Uninformed customers choose trading mechanisms in order to find a provider for a service. Providers are privately informed about their quality and aim to match with one of the customers. We consider...

Persistent link: https://www.econbiz.de/10013337698

Competing mechanisms in markets for lemons

Auster, Sarah; Gottardi, Piero - 2016

Persistent link: https://www.econbiz.de/10011452701

Flexible Contracts

Gottardi, Piero - 2012

requires the use of an appropriate incentive contract so as to realign his interests with those of the principal. The parties … of the optimal flexible contract both when the parties have sharp probabilistic beliefs over the possible events in which … risk aversion, the higher the agency costs for delegation and hence the less profitable is a flexible contract versus a …

Persistent link: https://www.econbiz.de/10013116425

Competing mechanisms in markets for lemons

Auster, Sarah; Gottardi, Piero - In: Theoretical economics : TE ; an open access journal in … 14 (2019) 3, pp. 927-970

We study directed search equilibria in a decentralized market with adverse selection, where uninformed buyers post general trading mechanisms and informed sellers select one of them. We show that this has differing and significant implications with respect to the traditional approach, based on...

Persistent link: https://www.econbiz.de/10012104602

Simultaneous search and adverse selection

Auster, Sarah; Gottardi, Piero; Wolthoff, Ronald - 2022

Persistent link: https://www.econbiz.de/10012793394

Simultaneous search and adverse selection

Auster, Sarah; Gottardi, Piero; Wolthoff, Ronald - 2022

Persistent link: https://www.econbiz.de/10012797471

Simultaneous search and adverse selection

Auster, Sarah; Gottardi, Piero; Wolthoff, Ronald - 2022

We study the effect of diminishing search frictions in markets with adverse selection by presenting a model in which agents with private information can simultaneously contact multiple trading partners. We highlight a new trade-off: facilitating contacts reduces coordination frictions but also...

Persistent link: https://www.econbiz.de/10012799497

Simultaneous search and adverse selection

Auster, Sarah; Gottardi, Piero; Wolthoff, Ronald - 2022

Persistent link: https://www.econbiz.de/10013355154

Simultaneous search and adverse selection

Auster, Sarah; Gottardi, Piero; Wolthoff, Ronald - 2024

Persistent link: https://www.econbiz.de/10014494073

Efficient competitive equilibria with adverse selection

Bisin, Alberto; Gottardi, Piero - 2005

Do Walrasian markets function orderly in the presence of adverse selection? In particular, is their outcome efficient? This paper addresses these questions in the context of a Rothschild and Stiglitz insurance economy. We identify an externality associated with the presence of adverse selection...

Persistent link: https://www.econbiz.de/10010261303