occurs in a transaction when two parties have different levels of information coverage regarding the agreement that allows one of them to gain a massive advantage in an agreement. Adverse selection ...

Adverse selection, a concept economists devised to explain insurance market failures, might seem far removed from the grand chessboard of geopolitics. Yet at its core lies a simple and unsettling ...

This article uses unique data from the London Stock Exchange to examine how trader anonymity and market liquidity affect dealers' decisions about where to place interdealer trades. During our sample ...

The present paper thoroughly explores second-best efficient allocations in an insurance economy with adverse selection. We start with a natural extension of the classical model, assuming less than ...

Have I got a deal for you! I've got this great used car, and I might be willing to sell. The actual value of the car depends on how well it has been maintained, and this is known only to me; expressed ...