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Synopsis
This book presents recent developments in the economics of asymmetric information. The problems of selection and moral hazard, with hidden actions or hidden information, are introduced by examining how they affect the market for investment finance. The ideas are then used to analyse the market for insurance, signalling and screening models of education, efficiency wages, industrial regulation, public procurement and auctions. Coverage is thorough while avoiding excessive mathematical detail. Diagrams and verbal reasoning make the ideas accessible to intermediate level undergraduate students and beyond.
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Product Description
This book presents recent developments in the economics of asymmetric information. The problems of selection and moral hazard, with hidden actions or hidden information, are introduced by examining how they affect the market for investment finance. The ideas are then used to analyse the market for insurance, signalling and screening models of education, efficiency wages, industrial regulation, public procurement and auctions. The style is clear, and the coverage is thorough while avoiding excessive mathematical detail. For undergraduate students and beyond.
"About this title" may belong to another edition of this title.
- PublisherPalgrave
- Publication date1997
- ISBN 10 0333647505
- ISBN 13 9780333647509
- BindingPaperback
- Number of pages208
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