mirrleesspenceadverseselectionproblemsimplementable AdverseSelectionProblemswithoutthe Spence-MirrleesCondition ⋆ AloisioAraujo a,b andHumbertoMoreira a a GraduateSchoolofEconomics,GetulioVargasFoundation,PraiadeBotafogo, 190,RiodeJaneiro,Brazil b InstitutoNacionaldeMatem´aticaPuraeAplicada,EstradaDonaCastorina, 11...
Adverse selection is a term used in economics and insurance to describe a situation where one party in a transaction has more information than the other, resulting in unequal and potentially negative outcomes for the party withless information. In this article, we will explore various examples of...
这是典型的逆向选择问题(adverse selection problem) 。 Diamond(1991)的模型预测到风险与债务到期之间成非单调关系。 wenku.baidu.com|基于8个网页 3. 逆选择等问题 除此之外,政府办理强制性的国民年金制度还能够解决交易成本(transaction costs)以及逆选择等问题(adverse selection problem… ...
Adverse selection is a problem associated with equity and debt contracts arising from A. the lenders’ ability to legally require sufficient collateral to cover a 100% loss if the borrower defaults B. the lenders’ relative lack of information about the borrowers’ potential returns and risks of ...
Annals of Dunarea de Jos University of Galati Fascicle I Economics and Applied Informaticsadverse selection problem, i.e. those who are especially likely to live longer constitute disproportionatelyAldea, A. & Marin, D. (2007). Asymmetric Information- Adverse Selection Problem. Academy of Economic ...
Maria Pia Olivero - 《Journal of International Economics》 被引量: 123发表: 2010年 Money, credit, and capital Chapter 3: Portfolio Selection with Predictable Assets, with application to the Demand for Money. Chapter 4: Portfolio Selection with Imperfectly Predictable ... J. Tobin,Stephen S. Gol...
In such cases, the adverse selection problem inefficiently stabilizes the economy. While the basic model can exhibit either accelerator or stabilizer equilibria, the accelerator equilibria are not robust to other forms of financing. Specifically, when firms use either equity financing or optimal ...
Berkeley.1The tag phrase identifying the problem came from the example of used cars Akerlof used to illustrate the concept of asymmetric information, as defective used cars are commonly referred to aslemons. The takeaway is that due to adverse selection, the only used cars left on the market ...
AsymmetricInformation,AdverseSelectionand SellerRevelationoneBayMotors ∗ GregoryLewis † DepartmentofEconomics UniversityofMichigan December28,2006 Abstract SincethepioneeringworkofAkerlof(1970),economistshavebeenawareoftheadverse selectionproblemthatasymmetricinformationcancreateindurablegoodsmarkets.The successofeBay...
adverse selection Also found in:Thesaurus,Medical,Financial,Encyclopedia,Wikipedia. n. The tendency of sellers to substitute low-quality products for high-quality products or of a uniformly priced service, such as insurance, to attract only the least profitable customers. Adverse selection arises from...