Information asymmetry and risk transfer markets
نویسندگان
چکیده
منابع مشابه
Information Asymmetry and Risk Transfer Markets
We provide a tractable model of counterparty risk in an intermediated risk transfer market, and analyze the consequences of this risk being private information. We show that unknown type information can be revealed when large trades are observable; however, the allocation is shown to be constrained inefficient. The inefficiency is highlighted by considering the imposition of a transaction tax, ...
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It is worth noticing that a great deal of interest has recently been paid by the financial literature with respect to the relationship prevailing between the information asymmetry and the financing decisions regarding 150 firms listed on the SBF 250 index over the period ranging from 2005 to 2012. The achieved estimation results have revealed that most variables turn out to be significantly cor...
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The von Neumann and Morgenstern theory postulates that rational choice under uncertainty is equivalent to maximization of expected utility (EU). This view is mathematically appealing and natural because of the affine structure of the space of probability measures. Behavioural economists and psychologists, on the other hand, have demonstrated that humans consistently violate the EU postulate by ...
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ژورنال
عنوان ژورنال: Journal of Financial Intermediation
سال: 2017
ISSN: 1042-9573
DOI: 10.1016/j.jfi.2017.05.003