Adverse selection induces economic limits to market substitution. If quality uncertainty persists in both internet and … traditional marketplaces, a second-best equilibrium with parallel market segments may arise. Positive trade in parallel segments … segments, while the traditional market may lack some segments. These missing segments are characterized by low quality …

. sein Prinzip der Supranationalität der Geldpolitik, mit Blick auf die Europäische Währungsunion diskutiert. Die Autoren der …