Economics, Econometrics and Finance
8 years ago

New model reveals market secrets, revolutionizing understanding of asymmetric information.

RePEc: Research Papers in Economics
General Equilibrium Model for an Asymmetric Information Economy
Ken Urai, Akihiko Yoshimachi, Kohei Shiozawa

Paper Summary

The article introduces a new way to analyze markets with hidden information. It focuses on how markets can still work even when some people know more than others. The researchers look at when these situations can happen and what makes them fair for everyone involved.

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