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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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Transparency and distressed sales under asymmetric information
Fuchs, William; Öry, Aniko; Skrzypacz, Andrzej - In: Theoretical economics : TE ; an open access journal in … 11 (2016) 3, pp. 1103-1144
We analyze price transparency in a dynamic market with private information and interdependent values. Uninformed buyers …
Persistent link: https://www.econbiz.de/10011671844
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Optimal contracting under adverse selection : the implications of mentalizing
Lenells, Jonatan; Stea, Diego; Foss, Nicolai J. - In: Contemporary economics 9 (2015) 2, pp. 215-231
We study a model of adverse selection, hard and soft information, and mentalizing ability-the human capacity to represent others' intentions, knowledge, and beliefs. By allowing for a continuous range of different information types, as well as for different means of acquiring information, we...
Persistent link: https://www.econbiz.de/10011305996
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Bargaining behavior in insurance markets : conference paper
Wagner, Lilo; Baumann, Julian - 2013
We rationalize a special type of sharing information which can typically be found in markets for occupational disability insurances. There, firms share information about acceptances and rejections of an applicant. We set up a multiple-step signalling model with uninformed agents and endogenize...
Persistent link: https://www.econbiz.de/10010336270
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Information updating and insurance dropout : evidence from dental insurance
Grönqvist, Erik (contributor) - 2004 - [Elektronische Ressource]
Micro data from a dental insurance natural experiment is used to analyze why agents opt out of insurance. The purpose is to relate the dropout decision to new information on risk, acquired by the policy holder and the insurer. The results show that agents tend to leave the insurance when...
Persistent link: https://www.econbiz.de/10002570047
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Ex Ante Information in Adverse Selection
Drugov, Mikhail - 2011
This paper studies the effects of the signal available before a standard Baron-Myerson contracting takes place. It shows that, while the principal's profits increase with the quality of the signal, the agent's rent also increases if the signal concerns the realizations where the principal is...
Persistent link: https://www.econbiz.de/10013133421
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Real Option Financing Under Asymmetric Information
Bouvard, Matthieu - 2012
I study the impact of capital market imperfections on the exercise of a real option. An entrepreneur has private information about a venture for which she seeks outside funding. An initial investment gives access to a continuous flow of information about the project. The duration of that...
Persistent link: https://www.econbiz.de/10013116735
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Investing in Trading Opportunities in Dynamic Adverse Selection
Heinsalu, Sander - 2017
I analyse a market with asymmetric information, interdependent values and trade frictions. The frictions can be reduced at a cost, e.g. by increasing attention, search, lobbying or computing power. For some parameters, there is a unique equilibrium in which an increase in the gains from trade...
Persistent link: https://www.econbiz.de/10012954012
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Optimal Sequential Screening with Ex Post Participation Constraint
Heumann, Tibor - 2019
We study a principal-agent model. The parties are symmetrically informed at first; the principal then designs the screening mechanism and, concurrently, the process by which the agent learns his type. Because the agent can opt out of the mechanism ex post, it must leave him with nonnegative...
Persistent link: https://www.econbiz.de/10012900904
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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