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The Economics of Asymmetric Information

Autor B. Hillier
en Limba Engleză Paperback – 6 apr 1997
This book presents recent developments in the economics of asymmetric information. The problems of selection and moral hazard, with hidden actions or hidden information, are introduced by examining how they affect the market for investment finance. The ideas are then used to analyse the market for insurance, signalling and screening models of education, efficiency wages, industrial regulation, public procurement and auctions. Coverage is thorough while avoiding excessive mathematical detail. Diagrams and verbal reasoning make the ideas accessible to intermediate level undergraduate students and beyond.
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Specificații

ISBN-13: 9780333647509
ISBN-10: 0333647505
Pagini: 208
Ilustrații: diagrams
Dimensiuni: 155 x 235 x 11 mm
Greutate: 0.3 kg
Ediția:1997
Editura: Bloomsbury Publishing
Colecția Red Globe Press
Locul publicării:London, United Kingdom

Cuprins

Preface Introduction PART 1: INVESTMENT FINANCE AND ASYMMETRIC INFORMATION Asymmetric Information in the Market for Investment Finance Investment Finance and the Selection Problem Investment Finance and the Hidden Action Problem Investment Finance and the Costly State Verification Problem PART 2: ASYMMETRIC INFORMATION PROBLEMS IN THE INSURANCE MARKET Insurance and Risk Aversion Insurance and the Hidden Action Problem Insurance and the Selection Problem PART 3: THE LABOUR MARKET: EDUCATION, SIGNALLING, SCREENING AND EFFICIENCY WAGES The Selection Problem and Education The Hidden Action Problem and Efficiency Wages PART 4: REGULATION, PUBLIC PROCUREMENT AND AUCTIONS Regulation and Procurement Auctions.