Debt contracts with ex-ante and ex-post asymmetric information: an example
نویسندگان
چکیده
منابع مشابه
Debt contracts with ex - ante and ex - post asymmetric information : an example
We consider a simple model of lending and borrowing combining two informational problems: adverse selection and costly state verification. Our analysis highlights the interaction between these two informational problems. We notably show that the higher the monitoring cost, the less discriminating the optimal menu of contracts is.
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2006
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-005-0632-7