We study how adverse selection distorts equilibrium investment allocations in a Walrasian credit market with two-sided heterogeneity. Representative investor and partial equilibrium economies are special cases where investment allocations are distorted above perfect information allocations. By...

Purpose - The purpose of this paper is to explore the mechanisms underlying hiring discrimination against transgender men. Design/methodology/approach - The authors conduct a scenario experiment with final-year business students in which fictitious hiring decisions are made about transgender or...

Politicians differ in their ability to implement some policy. In an election, candidates make commitments regarding the plans they will try to implement if elected. These serve as a signal of true ability. In equilibrium, candidates make overambitious promises. The candidate with the highest...