We show that the introduction of an electronic platform in the Chilean annuity market with the objectives of bringing transparency and enhancing competition also exacerbated adverse selection. The longevity gap between ...

We study a dynamic, decentralized lemons market with one-time entry and characterize its set of equilibria. Our framework offers a theory of how 'frozen' markets suffering from adverse selection recover or 'thaw' over time ...

Usando como base o ambiente descrito em Moreno e Wooders (2010), neste trabalho, analisamos trocas em um ambiente dinâmico, descentralizado e com seleção adversa. Ao contrário dos autores e da literatura, não consideramos ...

We generalize Boadway and Keen's model of adverse selection in capital markets to allow for risk aversion on the part of entrepreneurs. We use the new model to analyze two types of policies. We first consider policies that ...

This work analyses the optimal menu of contracts offered by a risk neutral principal to a risk averse agent under moral hazard, adverse selection and limited liability. There are two output levels, whose probability of ...

Managers know more about the performance of the organization than investors, which makes the disclosure of information a possible strategy for competitive differentiation, minimizing adverse selection. This paper's main ...