Browsing by Author "Lester, Benjamin"

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    • Information Spillovers, Gains from Trade, and Interventions in Frozen Markets 

      Camargo, Bráz Ministério de; Kim, Kyungmin; Lester, Benjamin
      2016
      We study government interventions in markets suffering from adverse selection. Importantly, asymmetric information prevents both the realization of gains from trade and the production of information that is valuable to ...

    • Trading dynamics in decentralized markets with adverse selection 

      Camargo, Bráz Ministério de; Lester, Benjamin
      2014-09
      We study a dynamic, decentralized lemons market with one-time entry and characterize its set of equilibria. Our framework offers a theory of how 'frozen' markets suffering from adverse selection recover or 'thaw' over time ...