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Bayesian Persuasion in Credit Ratings, the Credit Cycle, and the Riskiness of Structured Debt

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  • Maksim Isakin

    (University of Calgary)

  • Alexander David

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  • Maksim Isakin & Alexander David, "undated". "Bayesian Persuasion in Credit Ratings, the Credit Cycle, and the Riskiness of Structured Debt," Working Papers 2015-13, Department of Economics, University of Calgary, revised 16 Jul 2015.
    • Handle: RePEc:clg:wpaper:2015-13
    as

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    File URL: https://econ.ucalgary.ca/sites/econ.ucalgary.ca.manageprofile/files/unitis/publications/1-6380227/cdo_persuasion_jun2015.pdf
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    References listed on IDEAS

    as
    1. Patrick Bolton & Xavier Freixas & Joel Shapiro, 2012. "The Credit Ratings Game," Journal of Finance, American Finance Association, vol. 67(1), pages 85-112, February.
    2. Cooper,Russell, 1999. "Coordination Games," Cambridge Books, Cambridge University Press, number 9780521578967.
    3. Heski Bar-Isaac & Joel Shapiro, 2011. "Credit Ratings Accuracy and Analyst Incentives," American Economic Review, American Economic Association, vol. 101(3), pages 120-124, May.
    4. Alexander David, 2008. "Inflation Uncertainty, Asset Valuations, and the Credit Spreads Puzzle," The Review of Financial Studies, Society for Financial Studies, vol. 21(6), pages 2487-2534, November.
    5. Treacy, William F. & Carey, Mark, 2000. "Credit risk rating systems at large US banks," Journal of Banking & Finance, Elsevier, vol. 24(1-2), pages 167-201, January.
    6. Milgrom, Paul & Roberts, John, 1990. "Rationalizability, Learning, and Equilibrium in Games with Strategic Complementarities," Econometrica, Econometric Society, vol. 58(6), pages 1255-1277, November.
    7. Pierre Collin-Dufresne & Robert S. Goldstein & Fan Yang, 2012. "On the Relative Pricing of Long-Maturity Index Options and Collateralized Debt Obligations," Journal of Finance, American Finance Association, vol. 67(6), pages 1983-2014, December.
    8. Paolo Fulghieri & Günter Strobl & Han Xia, 2014. "The Economics of Solicited and Unsolicited Credit Ratings," The Review of Financial Studies, Society for Financial Studies, vol. 27(2), pages 484-518.
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