The Economics of Imperfect Information

Louis Phlips (Autor)

Buch | Hardcover

296 Seiten

1989
Cambridge University Press (Verlag)
978-0-521-30920-2 (ISBN)

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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.

List of figures and tables; Preface; Acknowledgments; 1. Preliminaries; Part I. Statics: 2. Asymmetric price information; 3. Asymmetric quality information; 4. Auctions; 5. Signaling equilibria; Part II. Dynamics: 6. Oligopoly and collusion; 7. Predatory pricing; 8. Efficient double auctions; References; Index.

Erscheint lt. Verlag	24.2.1989
Verlagsort	Cambridge
Sprache	englisch
Maße	152 x 234 mm
Gewicht	520 g
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
ISBN-10	0-521-30920-4 / 0521309204
ISBN-13	978-0-521-30920-2 / 9780521309202
Zustand	Neuware