The Adverse Selection Approach to Financial Intermediation: Some Characteristics of the Equilibrium Financial Structure
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منابع مشابه
The Adverse Selection Approach to Financial Intermediation: Some Characteristics of the Equilibrium Financial Structure
This paper examines an adverse selection economy in which efficient resource allocation is supported by intermediary contracts (coalitions). Agents differ along an ex ante publicly observeable dimension, so that the equilibrium arrangement yields a diverse set of financial arrangements among borrowers, lenders and intermediaries. Loans made by intermediaries would appear to be mispriced relativ...
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انتخاب نامساعد یکی از مشکلات اساسی در صنعت بیمه است. که ابتدا در سال 1960، توسط روتشیلد واستیگلیتز مورد بحث ومطالعه قرار گرفت ازآن موقع تاکنون بسیاری از پژوهشگران مدل های مختلفی را برای تجزیه و تحلیل تقاضا برای صنعت بیمه عمر که تماما ناشی از عدم قطعیت در این صنعت میباشد انجام داده اند .وهدف از آن پیدا کردن شرایطی است که تحت آن شرایط انتخاب یا کنار گذاشتن یک بیمه گزار به نفع و یا زیان شرکت بیمه ...
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The savings/investment process in capitalist economies is organized around financial intermediation, making them a central institution of economic growth. Financial intermediaries are firms that borrow from consumer/savers and lend to companies that need resources for investment. In contrast, in capital markets investors contract directly with firms, creating marketable securities. The prices o...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 1995
ISSN: 1556-5068
DOI: 10.2139/ssrn.2127261