We investigate the nature of the adverse selection problem in a market for adurable goodwhere trading and entry of new …

Stackelberg game structures and second-best regulation. We conclude that the addition of price-sensitive demand results in …

asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem … of low quality, i.e. high risk, loans and therefore reduces the risk of the bank loan portfolio. However, CVaR regulation … welfare. CVaR regulation also affects the operation of monetary policy. …

Network shares and retail prices are not symmetric in the telecommunications market with multiple bottlenecks which … give rise to new questions of access fee regulation. In this paper we consider a model with two types of asymmetry arising … from different entry timing, i.e. a larger reputation for the incumbent and lower cost of servicing for the entrant as a …

sets fares in a congestible network. Using three models, with different spatial structures, we describe the operator …-differentiation. The network models show that results obtained for a single-link network can be generalized to a situation where operators …

, contractual, and legal solutions. Our results show that auctions (competition among many informed buyers) provide a solution to …