Speaker Andrzej Skrzypacz
Host Alex Wolitsky
Date recorded 20 June 2012
We study a dynamic market with asymmetric information that induces the lemons problem. We compare efficiency of the market under different assumption about the timing of trade. We show that there generally exist conditions under which efficiency can be improved by temporarily closing the market as compared to continuous trading opportunities. Full paper and most current abstract available here: http://www.stanford.edu/~skrz/Dynamic_Lemons.pdf
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