Adverse Selection, Moral Hazard and Entry
AbstractFirms regularly introduce new, non-patentable products and innovations. When the possibility of a new product or an innovation arises to a potential seller, the seller faces a risk in successfully creating and producing a new product that consumers value above its costs. This framework enables a new analysis of signaling and adverse selection in models of fixed, exogenous quality or types.
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Bibliographic InfoPaper provided by Michigan State - Econometrics and Economic Theory in its series Papers with number 9404.
Length: 23 pages
Date of creation: 1994
Date of revision:
Contact details of provider:
Postal: MICHIGAN STATE UNIVERSITY, DEPARTMENT OF ECONOMICS, EAST LANSING MICHIGAN 48824 U.S.A.
Web page: http://econ.msu.edu/
More information through EDIRC
RISK ; DECISION MAKING ; UNCERTAINTY;
Find related papers by JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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