I study agency problems between brokers and investors in the retail bond market. Thepresence of suitability or fiduciary regulations, which govern transactions in this setting, canlead to tensions for brokers between maximizing their own profit and acting in the best interestsof their customers....

The paper studies insurance with moral hazard in a system of contingent-claims markets. Insurance buyers are modelled as Cournot monopolists or oligopolists. The other agents condition their expectations on market prices, as in models of rational-expectations equilibrium with asymmetric...