Adverse Selection, Credit, and Efficiency: the Case of the Missing Market

security market. When they apply to bank loans, though, only entrepreneurs with good projects pledge these additional funds as collateral. This equilibrium thus simultaneously entails cross-subsidization and separation between different types of entrepreneurs.

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Year of publication:	2009
Authors:	Martin, Alberto
Institutions:	Society for Economic Dynamics - SED

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Series:	2009 Meeting Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2009 SED Meeting Papers Number 178
Source:	RePEc - Research Papers in Economics

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