In a market where sellers are endowed with heterogeneous qualities of the same good and are more informed than buyers, high quality sellers' chances to trade might depend on their ability to inform buyers about the quality of the goods they offer. We study under what conditions and to what...

We analyze trade between a price setting party (seller) who has private information about the quality of a good and a price taker (buyer) who may also have private information. Differently from most of the literature, we focus on the case in which, under full information, it would be inefficient...

We analyze the effect of a bankruptcy law according to which some of the borrower's assets are exempt from liquidation in the event of default in the context of a competitive credit market characterized either by moral hazard (MH) or by adverse selection (AS). In particular, we study how the...