Asymmetric Information, Discrimination and Strategic Behavior in Markets PDF Download

Author: Patrick Munro Emerson
Publisher:
ISBN:
Category :
Languages : en
Pages : 338

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Author: Mr.Giovanni Dell'Ariccia
Publisher: International Monetary Fund
ISBN: 145195154X
Category : Business & Economics
Languages : en
Pages : 32

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The paper analyzes the effects of informational asymmetries on the market structure of the banking industry in a multi-period model of spatial competition. All lenders face uncertainty with regard to borrowers’ creditworthiness, but, in the process of lending, incumbent banks gather proprietary information about their clients, acquiring an advantage over potential entrants. These informational asymmetries are an important determinant of the industry structure and may represent a barrier to entry for new banks. The paper shows that, in contrast with traditional models of horizontal differentiation, the steady-state equilibrium is characterized by a finite number of banks even in the absence of fixed costs.

Author: Douglas Cumming
Publisher: OUP USA
ISBN: 0195391241
Category : Business & Economics
Languages : en
Pages : 937

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Provides a comprehensive picture of issues dealing with different sources of entrepreneurial finance and different issues with financing entrepreneurs. The Handbook comprises contributions from 48 authors based in 12 different countries.

Author: Baran Siyahhan
Publisher:
ISBN:
Category :
Languages : en
Pages :

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This paper studies strategic behavior in product markets with asymmetric information. A real options model is developed to investigate information revelation and signaling role capital structure. Information revelation is ensured through a learning mechanism that stems from the real options framework: firms learn from the strategic exercise of options. In cases where option exercise fails to yield information, firms issue securities in order to change the strategic behavior of their competitors. Such a policy, in turn, is shown to impose constraints on the ex ante capital structure decision of the firm. The outcome of competition depends on industry and firm characteristics. The model has important implications for firms operating in mature industries with low growth and/or high operating expenses.

Author: G. Manjunatha
Publisher: Ary Publisher
ISBN: 9782391241750
Category :
Languages : en
Pages : 0

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This econometric analysis focuses on the relationship between asymmetric information and financial markets. The study aims to examine how the presence of asymmetric information affects market dynamics and outcomes. By utilizing advanced statistical techniques and econometric modeling, the research investigates the impact of information asymmetry on various financial market variables. The study analyzes the role of information asymmetry in influencing market efficiency, price formation, trading volume, and investor behavior. It explores how differences in information between market participants lead to market inefficiencies, such as mispricing and suboptimal trading strategies. Additionally, the research investigates the implications of asymmetric information for market liquidity, volatility, and the overall stability of financial markets. Through the econometric analysis, the study provides empirical evidence and insights into the effects of asymmetric information on financial markets. It aims to contribute to the existing literature by shedding light on the mechanisms through which information asymmetry influences market dynamics and outcomes. The findings have practical implications for investors, financial institutions, and policymakers, helping to enhance market transparency, investor protection, and the efficiency of financial markets. Overall, this econometric analysis delves into the relationship between asymmetric information and financial markets. By employing rigorous statistical techniques, it aims to understand the impact of information asymmetry on market variables, providing valuable insights for market participants and stakeholders. The research ultimately seeks to contribute to the understanding of market dynamics and inform strategies to mitigate the adverse effects of information asymmetry in financial markets.

Author: R. Glenn Hubbard
Publisher: University of Chicago Press
ISBN: 0226355942
Category : Business & Economics
Languages : en
Pages : 354

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In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.

Author: Louis Phlips
Publisher: Cambridge University Press
ISBN: 9780521313810
Category : Business & Economics
Languages : en
Pages : 302

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Book Description
This book provides a systematic presentation of new microeconomic theories of imperfect information.

Author: Theo Lynn
Publisher: Springer
ISBN: 3030023303
Category : Business & Economics
Languages : en
Pages : 194

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Book Description
This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry.

Author: Stuart Dixon
Publisher:
ISBN:
Category : Information asymmetry
Languages : en
Pages :

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Author: Jorge Caballe Vilella
Publisher:
ISBN:
Category : Economics - Penn dissertations
Languages : en
Pages : 151

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