| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3415 |
| DP3415 The Role of Non-financial Factors in Internal Credit Ratings | |
| Martin Weber; Jens Grunert; Lars Norden | |
| 发表日期 | 2002-06-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | The Paper studies a straightforward adverse selection problem in which an informative but imperfect signal on the agent?s type becomes public ex post. The agent is protected by limited liability, which rules out unboundedly high penalties. Analysing the consequences of the additional information and the corresponding extension of the space of feasible contracts, the following conclusions emerge. First, the qualitative effects of the signal can be unambiguously tied to the nature of the underlying problem (e.g., whether the agent is in a ?buyer? or a ?seller? position). Second, the joint surplus of the relationship may well fall, i.e., the distortions due to informational asymmetries can become more pronounced although more information is now available. Finally, the agent may benefit from releasing additional signals because of an associated increase in expected informational rents. |
| 主题 | Industrial Organization |
| 关键词 | Limited liability Ex post information Adverse selection |
| URL | https://cepr.org/publications/dp3415 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532435 |
| 推荐引用方式 GB/T 7714 | Martin Weber,Jens Grunert,Lars Norden. DP3415 The Role of Non-financial Factors in Internal Credit Ratings. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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