The Economics of Imperfect Information
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The Economics of Imperfect Information by Louis Phlips
This book provides a systematic presentation of new microeconomic theories of imperfect information. Each chapter explores a particular type of informational asymmetry and reviews major papers. Wherever possible the theories are compared with experimental evidence. An extensive bibliography is included. Part I, statics, begins with an examination of how imperfect price or quantity information on the buyer's side provides new explanations of phenomena such as price dispersion and sales or resale price maintenance. A thorough discussion of private value auctions and common value auctions follows. Subsequent chapters investigate the links between uncertainty about personal characteristics and job signaling, incomplete insurance coverage, and credit rationing by banks. Part II, dynamics, relates the dynamics of collusion, predation, and market efficiency to the transmission, pooling, and aggregation of private information. Game theoretic findings and their implications for antitrust policy are included.| SKU | Unavailable |
| ISBN 13 | 9780521313810 |
| ISBN 10 | 0521313813 |
| Title | The Economics of Imperfect Information |
| Author | Louis Phlips |
| Condition | Unavailable |
| Binding Type | Paperback |
| Publisher | Cambridge University Press |
| Year published | 1989-02-24 |
| Number of pages | 296 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |