The UvA-LINKER will give you a range of other options to find the full text of a publication (including a direct link to the full-text if it is located on another database on the internet).
De UvA-LINKER biedt mogelijkheden om een publicatie elders te vinden (inclusief een directe link naar de publicatie online als deze beschikbaar is in een database op het internet).

Search results

Query: faculty: "FEB" and publication year: "2011"

AuthorsG. Dari-Mattiacci, S. Onderstal, F. Parisi
TitleInverse adverse selection: the market for gems
PublisherAmsterdam Center for Law & Economics, University of Amsterdam
PlaceAmsterdam; Minneapolis, MN
Year2011
Pages22
Title seriesACLE working paper
Series number2010-04
FacultyFaculty of Law
Faculty of Economics and Business
Institute/dept.FdR: Amsterdam Center for Law & Economics (ACLE)
FEB: Amsterdam Business School Research Institute (ABS-RI)
FEB: Amsterdam School of Economics Research Institute (ASE-RI)
AbstractThis paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof’s setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market tends to disappear from the bottom rather than from the top. In contrast to the traditional model, it is the high-value goods (gems) that are traded on the market, rather than the low-value goods (lemons). We investigate the consequences of this inverse adverse selection and its potential solutions. The uninformed buyer in a traditional market for lemons experiences the quality of the good he purchased; instead, the uninformed seller may never know the quality of the good that he sold. This renders the conventional legal and contractual solutions to the lemons problem often ineffective in the gems case. We further explore the theoretical and practical appeal of market, contractual, and legal solutions. Our results show that auctions (competition among many informed buyers) provide a solution to the inverse adverse selection problem.
NoteAlso: Legal studies research paper 10-47
Document typeReport
Document finderUvA-Linker