We study non-stationary dynamic decentralized markets with adverse selection in which trade is bilateral and prices are determined by bargaining. Examples include labor markets, housing markets, and markets for financial assets. We characterize equilibrium, and identify the dynamics of...

This paper presents an experimental investigation of a financing-investment environment under asymmetric information. It examines the underpricing-signaling hypothesis. Importantly, the paper tests and compares this hypothesis under the two institutions for financing offers that are commonly...

This paper presents a first experimental investigation of the underpricing-signaling hypothesis in a financing-investment environment under asymmetric information. Importantly, the paper tests and compares this hypothesis under the two institutions for financing offers that are commonly observed...

This paper presents a first experimental investigation of the underpricing-signaling hypothesis in a financing-investment environment under asymmetric information. Importantly, the paper tests and compares this hypothesis under the two institutions for financing offers that are commonly observed...