Information-constrained optima with retrading: an externality and its market-based solution

DOI10.1016/J.JET.2010.11.001MaRDI QIDQ548251zbMATH OpenOpenAlexDBLPWikidataFDO

Authors Weerachart T. Kilenthong, Robert M. Townsend

Publication date 28 June 2011

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL http://hdl.handle.net/1721.1/108265

zbMATH Keywords

private informationmoral hazarddecentralizationexternalitiesWalrasian equilibriumconstrained efficiencyretrading

Mathematics Subject Classification ID

General equilibrium theory (91B50)

Recommendations

• Pareto Optima and Competitive Equilibria with Moral Hazard and Financial Markets
• Risk sharing and retrading in incomplete markets
• Retrading in market games.
• Competitive equilibria with asymmetric information
• Constrained efficient markets for manipulation economies

Cites work

• A theory of liquidity and regulation of financial intermediation
• An Equilibrium Existence Theorem without Convexity Assumptions
• Bank Runs, Deposit Insurance, and Liquidity
• Financial intermediaries and markets.
• General Competitive Analysis in an Economy with Private Information
• Inefficient Credit Booms
• Moral hazard and general equilibrium in large economies
• Optimal taxation with endogenous insurance markets
• Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard
• Smoothing sudden stops
• VALUATION EQUILIBRIUM AND PARETO OPTIMUM
• WELFARE ECONOMICS AND EXISTENCE OF AN EQUILIBRIUM FOR A COMPETITIVE ECONOMY

Cited in

(7)

• scientific article; zbMATH DE number 1998556 (Why is no real title available?)
• Introduction to incompleteness and uncertainty in economics
• On the interplay of hidden action and hidden information in simple bilateral trading problems
• Optimal liquidity policy with shadow banking
• Designing insurance markets with moral hazard and nonexclusive contracts
• Rights to retrade, free-riding and insurance requirement
• Moral hazard and compensation packages: does reshuffling matter?

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