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How Well Do Adverse Selection Components Measure Adverse Selection?
Financial Management, 2001The performance of five adverse selection models are examined by comparing their component estimates to other measures of information asymmetry and informed trading. The models produce mixed results. Adverse selection components correlate with various volatility measures, but appear unrelated to measures of uncertainty.
Bonnie F. Van Ness +2 more
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Nonparametric Adverse Selection Problems
Annals of Operations Research, 2002Consider a principal-agent problem where the agent's type is represented by a function. Then solving the problem that results requires an appeal to function space methods. This involves replacing convexity by an abstract notion of \(X\)-convexity and subdifferentiability by \(X\)-subdifferentiability.
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Adverse Selection and the Middleman
Economica, 1989The question analyzed in this paper is whether a market that otherwise experiences an Akerlofian "lemons impasse" can function if a middleman organizes trade. It is found that the middleman's intervention can prove successful even if neither signals nor quality screening methods exist that could help him to assess the good's qualities.
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