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The multi-faceted concept of transparency
Forssbæck, Jens; Oxelheim, Lars - 2014
Transparency has become a catchword and in the economic-political debate is often seen as a universal remedy for all … sorts of problems. In this paper, we analyze and discuss the meaning and use of the concept of transparency in economic … research. We look for common denominators across different areas where the concept is used, and find that transparency in …
Persistent link: https://www.econbiz.de/10010393290
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Adverse selection, learning, and competitive search
Mayr, Karin - 2020
I develop a dynamic version of the competitive search model with adverse selection in Guerrieri, Shimer and Wright (2010). My model allows for an analysis of the effects of firm learning on labor market efficiency in the presence of search frictions. I find that firm learning increases relative...
Persistent link: https://www.econbiz.de/10012306402
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Law and Lemons
Cho, Chihoon - 2020
We study how statutory-law changes relate to disclosure, pricing, and liquidity in the used-car market. Federal odometer laws mandated disclosure of mileage on car titles upon ownership transfer and thereby enhanced enforcement of odometer-fraud prohibitions. Exploiting time variations in state...
Persistent link: https://www.econbiz.de/10012847265
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Signaling in Dynamic Markets with Adverse Selection
Camargo, Braz - 2020
We study trade in dynamic decentralized markets with adverse selection. Differently from the literature on the topic so far, we assume that the informed sellers make the offers, so that signaling through prices is possible. We establish basic properties of equilibria, provide necessary and...
Persistent link: https://www.econbiz.de/10012825119
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Aggregation and Design of Information in Asset Markets with Adverse Selection
Asriyan, Vladimir - 2019
How effectively does a decentralized marketplace aggregate information that is dispersed throughout the economy? We study this question in a dynamic setting where sellers have private information that is correlated with an unobservable aggregate state. In any equilibrium, each seller's trading...
Persistent link: https://www.econbiz.de/10012901979
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Adverse Selection in the Equity Loans Market
Lin, Peita - 2018
We examine a form of adverse selection which arises when short sellers attempt to coordinate a price correction, but stock lenders learn by observing arbitrageurs' arrivals and become better informed about the true timing of an imminent price correction. We refer to this concept as coarse...
Persistent link: https://www.econbiz.de/10012935827
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Sweet lemons : mitigating collusion in organizations
Pollrich, Martin; Negenborn, Colin von - 2018
This paper shows that the possibility of collusion between an agent and a supervisor imposes no restrictions on the set of implementable social choice functions (SCF) and associated payoff vectors. Any SCF and any payoff profile that are implementable if the supervisor's information was public...
Persistent link: https://www.econbiz.de/10011902729
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Mechanism design with aftermarkets : on the impossibility of pure information intermediation
Dworczak, Piotr - 2016
A mediator, with no prior information and no control over the market protocol, attempts to redesign the information structure in the market by running an information intermediation mechanism with transfers that first elicits information from an agent, and then discloses information to another...
Persistent link: https://www.econbiz.de/10011865067
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Frictional asset reallocation under adverse selection
Madison, Florian - 2018 - Revised version
The aim of this paper is to study asset reallocation in financial markets subject to search, bargaining, and information frictions, and to analyze the impact of monetary policy on equilibrium outcomes. The main results show that private information regarding the quality of an asset impairs its...
Persistent link: https://www.econbiz.de/10011790391
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Tax policy and entrepreneurial entry with information asymmetry and learning
D'Andria, Diego - 2017 - This version: February 2017
We study a market with entrepreneurial and workers entry where both entrepreneurs' abilities and workers' qualities are private information. We develop an Agent-Based Computable model to mimic the mechanisms described in a previous analytical model (Boadway and Sato 2011). Then, we introduce the...
Persistent link: https://www.econbiz.de/10011982041