English, Article, Journal or magazine article edition: Uncertain delivery in markets for lemons Joao Correia-da-Silva

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Bookmark: http://trove.nla.gov.au/version/182464
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Uncertain delivery in markets for lemons
Author
  • Joao Correia-da-Silva
Physical Description
  • preprint
Notes
  • The notion of uncertain delivery is extended to study exchange economies in which agents have different abilities to distinguish between goods (for example a car in good condition versus a car in bad condition). In this setting, it is useful to distinguish goods not only by their physical characteristics,but also by the agent that is bringing them to the market. Equilibrium is shown to exist, and characterized by the fact that agents always receive the cheapest bundle among those that they cannot distinguish from truthful delivery. Several examples are presented as an illustration.
  • General equilibrium, Asymmetric information, Adverse selection, Uncertain delivery, Pool, Delivery rates
  • RePEc:por:fepwps:310
  • RePEc:cla:levarc:814577000000000121
Language
  • English
Contributed by
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