Divergent Behavior in Markets with Idiosyncratic Private Information
نویسندگان
چکیده
منابع مشابه
Markets with Multidimensional Private Information
Impose Assumption 1 and assume there exists a β ∈ B with βΓ(v) > v. The semi-separating equilibrium is characterized by a discount factor for the marginal buyer, β̂ ∈ B, which is determined in equation (A1) below. For now, fix β̂ and assume, as we verify below, that β̂Γ(v) > v. We next define two critical prices. The lowest price with trade is p ≡ β̂Γ(v), the value that the marginal buyer places on...
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ژورنال
عنوان ژورنال: Review of Behavioral Economics
سال: 2017
ISSN: 2326-6198,2326-6201
DOI: 10.1561/105.00000064