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We prove the existence of an equilibrium in competitive markets with adverse selection in the sense of Miyazaki (1977 …
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We present a three-person, two-period bargaining game with private information. A single proposer is seeking to secure agreement to a proposal under either majority or unanimity rule. If the first period proposal fails, the game ends immediately with an exogenously given "breakdown" probability....
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Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium …
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