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Non-Exclusive Competition in the Market for Lemons

Attar, Andrea; Mariotti, Thomas; Salanié, François - 2009

We consider an exchange economy in which a seller can trade an endowment of a divisible good whose quality she privately knows. Buyers compete in menus of non-exclusive contracts, so that the seller may choose to trade with several buyers. In this context, we show that an equilibrium always...

Persistent link: https://www.econbiz.de/10014199733

Negative externalities and equilibrium existence in competitive markets with adverse selection

Siemens, Ferdinand von; Kosfeld, Michael - 2009

on existing theories of competition in markets with adverse selection. -- Asymmetric information ; competition ; adverse …

Persistent link: https://www.econbiz.de/10003831629

Competition and Price Transparency in the Market for Lemons : Experimental Evidence

Bochet, Olivier - 2020

design an experiment to examine the impact of competition and price transparency in such settings. Consistent with the … theoretical predictions, we find that competition promotes efficiency if bargainers cannot observe each other's price offers …. Contrary to the predictions, however, the efficiency-enhancing effect of competition persists even when offers are observable …

Persistent link: https://www.econbiz.de/10012854487

Negative Externalities and Equilibrium Existence in Competitive Markets with Adverse Selection

von Siemens, Ferdinand - 2009

on existing theories of competition in markets with adverse selection …

Persistent link: https://www.econbiz.de/10012763924

Fighting for lemons: the encouragement effect in dynamic contests with private information

Beccuti, Juan; Möller, Marc - 2020

This paper proposes a tractable model of a dynamic contest where players have private information about the contest's prize. We show that private information helps to encourage players who have fallen behind, leading to an increase in aggregate incentives. We derive the optimal information...

Persistent link: https://www.econbiz.de/10012318681

Interjurisdictional competition with adverse selection

Hernández-Murillo, Rubén - In: Journal of public economics 173 (2019), pp. 85-95

Persistent link: https://www.econbiz.de/10012160517

How to share it out : the value of information in teams

Gershkov, Alex; Li, Jianpei; Schweinzer, Paul - 2014

We study the role of information exchange, leadership and coordination in team or partnership structures. For this purpose, we view individuals jointly engaging in productive processes-a "team"-as endowed with individual and privately held information on the joint production process. Once...

Persistent link: https://www.econbiz.de/10010405163

Heterogeneous noisy beliefs and dynamic competition in financial markets

Boco, Hervé; Germain, Laurent; Rousseau, Fabrice - 2016

Persistent link: https://www.econbiz.de/10011553079

When banks' shadow fades and shadow banking rises : securitization and loan performance in China

Gong, Di; Wu, Jin; Zhu, Jigao - 2023

This study examines the relationship between securitization and loan performance using proprietary loan-level data from a Chinese bank. Securitized loans exhibit lower ex-post default rates and prepayment chances compared to the loans retained on the bank's balance sheet, suggesting no adverse...

Persistent link: https://www.econbiz.de/10014342279

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...

Persistent link: https://www.econbiz.de/10010393290