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Acharya, Viral V; Johnson, Tim - C.E.P.R. Discussion Papers - 2005

report evidence of significant incremental information revelation in the credit default swap (CDS) market, consistent with …

Persistent link: https://www.econbiz.de/10005666591

A Practical Competitive Market Model for Indivisible Commo

Yang, Zaifu - Cowles Foundation for Research in Economics, Yale University - 2001

A general and practical competitive market model for trading indivisible goods is introduced. There are a group of buyers and a group of sellers, and several indivisible goods. Each buyer is initially endowed with a sufficient amount of money and each seller is endowed with several units of each...

Persistent link: https://www.econbiz.de/10005762658

A Practical Competitive Market Model for Indivisible Commodities

Yang, Zaifu - 2003

Persistent link: https://www.econbiz.de/10014125050

On reducing information asymmetry in US health care

Mascarenhas, Oswald A. J.; Kesavan, Ram; Bernacchi, … - In: Health marketing quarterly 30 (2013) 4, pp. 379-398

Persistent link: https://www.econbiz.de/10010244724

You are judged by the company you keep : reputation leverage in vertically related markets

Choi, Jay Pil; Peitz, Martin - 2016

This paper analyzes a mechanism through which a supplier of unknown quality can overcome its asymmetric information problem by selling via a reputable downstream rm. The supplier s adverse-selection problem can be solved if the downstream rm has established a reputation for delivering high...

Persistent link: https://www.econbiz.de/10011492196

A dynamic analysis of the demand for health insurance and health care

Bolhaar, Jonneke; Lindeboom, Maarten; Klaauw, Bas van der - 2008

We investigate the presence of moral hazard and advantageous or adverse selection in a market for supplementary health insurance. For this we specify and estimate dynamic models for health insurance decisions and health care utilization. Estimates of the health care utilization models indicate...

Persistent link: https://www.econbiz.de/10011377059

Optimal delegated search with adverse selection and moral hazard

Ulbricht, Robert - In: Theoretical economics : TE ; an open access journal in … 11 (2016) 1, pp. 253-278

The paper studies a model of delegated search. The distribution of search revenues is unknown to the principal and has to be elicited from the agent in order to design the optimal search policy. At the same time, the search process is unobservable, requiring search to be self-enforcing. The two...

Persistent link: https://www.econbiz.de/10011672191

The existence of the Miyazaki-Wilson-Spence equilibrium with continuous type distributions

Gemmo, Irina; Kubitza, Christian; Rothschild, Casey G. - 2018 - This version: November 2018

We prove the existence of an equilibrium in competitive markets with adverse selection in the sense of Miyazaki (1977), Wilson (1977), and Spence (1978) when the distribution of unobservable risk types is continuous. Our proof leverages the finite-type proof in Spence (1978) and a limiting...

Persistent link: https://www.econbiz.de/10011932179

Micro-finance competition: motivated micro-lenders, double-dipping and default

Guha, Brishti; Roy Chowdhury, Prabal - Volkswirtschaftliche Fakultät, … - 2012

-dipping (and consequently default), with there being double-dipping whenever the MFIs are very profit-oriented. Moreover, in an … default equilibrium. Interestingly, an increase in MFI competition can lower efficiency, as well as increase the extent of … double-dipping and default. Further, the interest rates may go either way, with the interest rate likely to increase if the …

Persistent link: https://www.econbiz.de/10009422002

Welfare effects of certification under latent adverse selection

Creane, Anthony; Jeitschko, Thomas D.; Sim, Kyoungbo - 2019

Asymmetric information is a classic example of market failure that undermines the efficiency associated with perfectly competitive market outcomes: the "lemons" market. Credible certification, that substantiates unobservable characteristics of products that consumers value, is often considered a...

Persistent link: https://www.econbiz.de/10011987160