In this paper, I find a charter which allows Government Sponsored Enterprises (Fannie Mae) that guarantee mortgage backed securities (MBS) to act as liquidity providers within secondary mortgage markets is beneficial for MBS prices and dealers' transaction costs. I also demonstrate that the...

This study develops a general equilibrium model within which self revelation of ability - that is not accompanied by any signaling - is compatible with arrival at rational expectations equilibriums (REE). In the model, economic agents either are 'confident', 'overconfident', or 'under-confident'...