منابع مشابه
An sS Model with Adverse Selection
We present a model of the market for a used durable in which agents face ...xed costs of adjustment, the magnitude of which depends on the degree of adverse selection in the secondary market. We ...nd that, unlike typical models, the sS bands in our model contract as the variance of the shock process increases. We also analyze a dynamic version of the model in which agents are allowed to make d...
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15 صفحه اولSearch with Adverse Selection∗
This paper introduces a sequential search model with adverse selection. We study information aggregation by the price–how close the equilibrium prices are to the full information prices–when the search frictions are small. We identify circumstances under which prices fail to aggregate information well even when the search frictions are small. We trace this to a strong form of the winner’s curse...
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In the current decade, determining the most appropriate supplier as a strategic factor in the supply chain has attracted lots of consideration. On the other hand, organizations do necessary measures to implement green supply chain management in order to improve environmental and economic performance. An important way to implement green supply chain management, could be revising the method of pu...
متن کاملAnalysis of a Dynamic Adverse Selection Model with Asymptotic Efficiency
This paper studies an infinite horizon adverse selection model with an underlying two-state Markov decision process. It introduces a novel approach that constructs the continuation payoff frontier exactly, as the fixed point of a functional operator. If the model supports an incentive compatible first-best (ICFB) contract, the continuation payoff frontier can be efficiently constructed, and the...
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ژورنال
عنوان ژورنال: Journal of Political Economy
سال: 2004
ISSN: 0022-3808,1537-534X
DOI: 10.1086/383104