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Citizen Candidacy With Asymmetric Information

The B.E. Journal of Theoretical Economics, 2006
We extend a simple version of the citizen candidacy model (developed by Osborne-Slivinski (1996) and Besley-Coate (1997)) to an asymmetric information setting, in which the type of a given individual is assumed to be private information. Focusing on a particular class of perfect Bayesian equilibria, we show that there exist only two kinds of equilibria.
Casamatta, Georges   +1 more
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On the Value of Commitment with Asymmetric Information

Econometrica, 1996
Summary: Several recent papers have emphasized that long-term relationships can be efficiently governed by short-term contracts, provided that there is no asymmetric information at the contracting dates. This excludes not only adverse selection problems, but also moral hazards problems in which hidden actions generate private information over the ...
Rey, Patrick, Salanie, Bernard
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On the Informativeness of Asymmetric Dissimilarities

2013
A widely used approach to cope with asymmetry in dissimilarities is by symmetrizing them. Usually, asymmetry is corrected by applying combiners such as average, minimum or maximum of the two directed dissimilarities. Whether or not these are the best approaches for combining the asymmetry remains an open issue. In this paper we study the performance of
Yenisel Plasencia Calana   +6 more
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Asymmetric Information and Options

Review of Financial Studies, 1993
In an extension of the Kyle (1985) model of continuous insider trading, it is shown that asymmetric information can make it impossible to price options by arbitrage. Even when an option would appear to be redundant, its introduction into the market can cause the volatility of the underlying asset to become stochastic.
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Employment With Asymmetric Information

The Quarterly Journal of Economics, 1983
In an economy without informational and other distortions, entrepreneurs and workers can write labor contracts that support a Pareto optimal allocation of resources. This paper is an attempt to characterize contracts when enterpreneurs are better informed about the state of nature than are their workers.
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Momentum and asymmetric information

China Finance Review International, 2006
PurposeThe purpose of this paper is to examine the implications of asymmetric information for price evolution and investor behavior under a rational expectations framework.Design/methodology/approachThe author presents a simple asymmetric information‐based asset‐pricing model to show that private information and its revelation can generate price ...
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Asymmetric Information in Fads Models

Finance and Stochastics, 2006
The authors study fads models as plausible alternatives to the efficient markets/constant expected returns assumptions. Under these models, logarithms of asset prices embody both a martingale component, with permanent shocks, and a stationary component, with temporary shocks. The basic questions are: do the fads exist and if they exist, do they matter?
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Bargaining under Asymmetric Information

Econometrica, 1984
Summary: This paper investigates two-person bargaining under incomplete information where one player has strictly better information about the potential value of the transaction than the other. The implications of information barriers to trade are explored, and optimal bargaining mechanisms are characterized.
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