This dissertation focuses on a phenomenon called appraisal bias in the residential mortgage market that stemmed from information asymmetry. It is composed of two essays, one theoretical and one empirical. The theoretical essay analyzes the existence of appraisal bias in a dynamic game of...

The Internet has turned out to be an appealing place for doing business, with its unprecedented ability to bring together a large number of buyers and sellers, cover a wide scale of market and automate transaction processes, etc. However, this powerful technology of information transformation...