difficulties they pose to acquirers in terms of information asymmetry about legal title. Consequently, these analyses tend to …

valuation intermediation is developed that elucidates a multi-tiered imperfect information cascade. First, the valuer is … understood as middleman counteracting information uncertainties on product quality of real estate. An additional constraint is … constituted by information asymmetries between valuer and contractor. Drawing on New Institutional Economics, we discuss how the …

overcoming asymmetric information problems at no cost. This paper characterizes efficient protocols assuming that: (i) some …

In the literature, the acquisition of private information is usually common knowledge. In an adverse selection model … probability of early information obtained before production (Investment S), and (2) the owner may observe when the manager becomes … informed (before or after the manager’s production choice) making the acquisition of private information common knowledge …

as equilibrium outcomes of interactions among strategic individuals with private information and endogenous transaction … concepts, endogenous transaction costs, strategic agents, private information, truthful revelation of private costs and …