Browsing Department of Economics by Subject "JEL Classification Number: K4"
Now showing items 1-2 of 2
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(Vanderbilt University, 2010)We model the game between an informed seller (a lawyer) and an uninformed buyer (a potential client) over the choice of compensation for the lawyer to take a case to trial, when there is post-contracting investment by the ...
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(Vanderbilt University, 2011)We show that, in the context of the market for a professional service, adverse selection problems can sufficiently exacerbate moral hazard considerations so that even though all agents are risk neutral, welfare can be ...