Asymmetric Information and Intermediation Chains
نویسندگان
چکیده
منابع مشابه
Risk intermediation in supply chains
This paper demonstrates that an important role of intermediaries in supply chains is to reduce the ®nancial risk faced by retailers. It is well known that risk averse retailers when faced by the classical single-period inventory (newsvendor) problem will order less than the expected value maximizing (newsboy) quantity. We show that in such situations a risk neutral distributor can oer a menu o...
متن کاملContracting with Asymmetric Information in Supply Chains
When a retailer holds no private information, a powerful supplier can use several contract types to extract for herself the first-best channel profit, leaving the retailer nothing but his reservation profit. In the case where the retailer holds private information on the probability distribution of market demand, most well analyzed contracts do not allow the supplier to achieve for herself the ...
متن کاملFinancial Intermediation Chains in an OTC Market∗
More and more layers of intermediaries arise in modern financial markets. What determines this chain of intermediation? What are the consequences? We analyze these questions in a stylized search model with an endogenous intermediary sector and intermediation chains. We show that the chain length and the price dispersion among inter-dealer trades are decreasing in search cost, search speed, and ...
متن کاملIntermediation and Competition in Retailer-Driven Global Supply Chains*
To understand the joint impact of horizontal and vertical competition on supply chain intermediation, we propose a model of competition in a three-tier supply chain where intermediaries compete to mediate between competing retailers and capacity-constrained suppliers. We argue that in retailer-driven global supply chains it is more realistic to model the retailers as Stackelberg leaders, and sh...
متن کاملOption and forward contracting with asymmetric information: Valuation issues in supply chains
We investigate the role of forward commitments and option contracts between a seller (supplier) and a buyer (retailer) in the presence of asymmetric information. In our case, both parties face price and demand uncertainty, but the retailer, being closer to the market, has additional information about the true demand. The supplier, aware of this asymmetry, and acting as a Stackelberg leader, des...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: American Economic Review
سال: 2016
ISSN: 0002-8282
DOI: 10.1257/aer.20140662