Carlier, G and Renou, L (2006) 'Debt contracts with ex-ante and ex-post asymmetric information: an example.' Economic Theory, 28 (2). pp. 461-473. ISSN 0938-2259
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Official URL: http://ideas.repec.org/a/spr/joecth/v28y2006i2p461...
Abstract
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.
Item Type: | Article |
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Uncontrolled Keywords: | Debt contracts; Diversity of opinions; Screening; Costly monitoring; Pooling. |
Subjects: | H Social Sciences > HB Economic Theory |
Divisions: | Faculty of Social Sciences > Economics, Department of |
SWORD Depositor: | Elements |
Depositing User: | Elements |
Date Deposited: | 07 Jan 2013 11:34 |
Last Modified: | 06 Jan 2022 14:37 |
URI: | http://repository.essex.ac.uk/id/eprint/5013 |
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