Experts against adverse selection: A note on the existence of equilibrium with costly appropriable information
type: Item
instance of: scholarly article
title: Experts against adverse selection: A note on the existence of equilibrium with costly appropriable information
zbMATH Open document ID: 0581.90013
DOI: 10.1016/0022-0531(85)90098-5
published in: Journal of Economic Theory
publication date: 1985-01-01T00:00:00Z
review text: The existence of competitive equilibrium in \textit{J.-J. Laffont}'s [ibid. 10, 284-308 (1975; Zbl 0368.90018)] model of adverse selection with costly information is studied. The existence of an equilibrium with finite prices is demonstrated without unusual restrictions on preferences or the technology of information production. This is made possible by changing the way in which the behaviour of information producing agents is modelled, and allowing for some public information.
Mathematics Subject Classification ID: 91B50
zbMATH DE Number: 3930676
zbMATH Keywords: existence of competitive equilibrium
zbMATH Keywords: adverse selection
zbMATH Keywords: costly information
zbMATH Keywords: public information
author: John Payne Bigelow
MaRDI profile type: Publication
full work available at URL: 0022-0531(85)90098-5
OpenAlex ID: W2068378810
cites work: Existence of an Equilibrium for a Competitive Economy
cites work: Q4070950
cites work: Optimism and experts against adverse selection in a competitive economy
description: scientific article; zbMATH DE number 3930676