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Fighting for the best, losing with the rest : the perils of competition in entrepreneurial finance

Hernández, Juan; Wills, Daniel - 2024

giving more to all entrepreneurs. In equilibrium, competition for the best entrepreneurs forces intermediaries to offer …. Competition among financial intermediaries always forces them to fund projects with negative expected returns both from a private … scale. The three main features of our framework (competition, adverse selection, and limited liability) are necessary to get …

Persistent link: https://www.econbiz.de/10014537358

Risikoselektion im Mitgliederwettbewerb der gesetzlichen Krankenversicherung

Resch, Stefan - 2004

Das Gesundheitsstrukturgesetz von 1992 erweiterte die Wahlrechte der Versicherten in der gesetzlichen Krankenversicherung (GKV) und führte so zu einer Intensivierung des Wettbewerbs der Krankenkassen um Mitglieder bzw. Versicherte. In diesem Zusammenhang sollte die Einführung eines...

Persistent link: https://www.econbiz.de/10011923009

Information disclosure in China's rising securitization market

Chen, Xueer; Wang, Chao - In: International Journal of Financial Studies : open … 9 (2021) 4, pp. 1-29

E-commerce and FinTech are currently booming in China. The growing consumer market is accompanied by internet finance, by which consumers can easily borrow money from financial institutions online. As a result, the growing risks of financial institutions are of concern to the government and...

Persistent link: https://www.econbiz.de/10012698383

The impact of health impairment on optimal annuitization for retirees

Nurin Haniah Asmuni; Ken Seng Tan; Purcal, T. Sachi - In: Risks : open access journal 10 (2022) 4, pp. 1-21

Post retirement, annuities provide a steady stream of income for retirees. However, the annuitization rate is relatively small in the insurance market in many countries around the world. Prior studies have shown that a substandard health status in retirement reduces annuitization due to adverse...

Persistent link: https://www.econbiz.de/10013355432

The lemon market of insolvency proceedings in Spain in the new normal : information, asymmetry, and adverse selection problems

Olabarrieta, Unai; San-Jose, Leire; Araujo, Andrés - In: Cogent business & management 10 (2023) 3, pp. 1-16

Insolvency proceedings are strategic for the competitiveness of a national economy. The new law, but also new financial situation of organizations affect the new normal of insolvency framework. In Europe, standards aimed at creating an efficient framework for corporate insolvency resolution are...

Persistent link: https://www.econbiz.de/10014505998

Can multi-peril insurance policies mitigate adverse selection?

Zweifel, Peter; Hofmann, Annette - In: Risks : open access journal 12 (2024) 6, pp. 1-16

The objective of this paper is to pursue an intuitive idea: for a consumer who represents an "unfavorable" health risk but an "excellent risk" as a driver, a multi-peril policy could be associated with a reduced selection effort on the part of the insurer. If this intuition should be confirmed,...

Persistent link: https://www.econbiz.de/10014636696

Accruals anomalies could be explained by the adverse selection risk induced by the information structure : the case of the Japanese securities market

Isoyama, Hiroaki - In: Cogent economics & finance 12 (2024) 1, pp. 1-40

investors, as described by market microstructure theory, uninformed investors are exposed to the risk of adverse selection. To …, it is believed that conducting analyses based on aspects of market microstructure theory, which specifically describe …

Persistent link: https://www.econbiz.de/10015386919

Optimal information disclosure and market outcomes

Hopenhayn, Hugo Andrés; Saeedi, Maryam - In: Theoretical economics : TE ; an open access journal in … 18 (2023) 4, pp. 1317-1344

This paper addresses two central questions in markets with adverse selection: How does information impact the welfare of market participants (sellers and buyers)? Also, what is the optimal information disclosure policy and how is it affected by the planner's relative welfare weight on sellers'...

Persistent link: https://www.econbiz.de/10014440060

Participation constraints in discontinuous adverse selection models

Martimort, David; Stole, Lars A. - In: Theoretical economics : TE ; an open access journal in … 17 (2022) 3, pp. 1145-1181

upper semicontinuous in the control variable. We apply those conditions to economic environments in contract theory where …

Persistent link: https://www.econbiz.de/10013327119

Qualitätsungewißheit bei Gütern mit Vertrauenseigenschaften : Entwicklung und Anwendung eines entscheidungstheoretisch fundierten Analyserahmens

Benner, Dietrich - 2002

Qualitätsungewißheit erfaßt das Problem asymmetrischer Information bei Vertrauenseigenschaften und geht über Qualitätsunsicherheit hinaus, die nur bei Erfahrungseigenschaften auftritt. Informationsökonomische Modelle können Qualitätsungewißheit bisher nur unzureichend analysieren. Zur...

Persistent link: https://www.econbiz.de/10011927142