This work takes a closer look on the predominant assumption in usual lemon market models of having finitely many or even only two different levels of quality. We model a situation which is close to the classical monopolistic setting but admits an interval of possible quality values....

This paper examines the liability and labeling approaches to regulating product safety. Stronger product liability increases producer care, which then has a negative lulling effect on consumer attention to warning labels. By contrast, more visible warning labels increase such consumer care,...

This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement and two types of individuals, who differ in their life expectancy. In order to introduce the existence of limited-time pension insurance, we consider a model where for...