A Game-Theoretic Foundation for Competitive Equilibria in the Stiglitz–Weiss Model

Author:

Arnold Lutz G.1

Affiliation:

1. University of Regensburg, Regensburg , Germany

Abstract

AbstractFinancial intermediaries are, by definition, engaged in two-sided competition. Despite the well-known problems of achieving competitive solutions under twosided price competition, models of financial intermediation are commonly solved for competitive equilibria. This article provides a game-theoretic foundation for competitive equilibria in one of the most important models of financial intermediation, the seminal Stiglitz-Weiss (1981) adverse selection model of the credit market with a continuum of borrower types.

Publisher

Walter de Gruyter GmbH

Subject

Economics and Econometrics

Reference21 articles.

1. Bertrand-Edgeworth Oligopoly in Large Markets;Allen;Review of Economic Studies,1986

2. On the Possibility of Credit Rationing in the Stiglitz-Weiss Model;Arnold;American Economic Review,2009

3. Banking and macroeconomic equilibrium

4. Screening vs. Rationing in Credit Markets with Imperfect Information;Bester;American Economic Review,1985

5. Coco , G. 1997 Credit Rationing and the Welfare Gain from Usury Laws

Cited by 6 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Collateral in credit rationing in markets with asymmetric information;The Quarterly Review of Economics and Finance;2018-05

2. Double-Sided Contract Competition with Market-Side Switching;SSRN Electronic Journal;2017

3. Single-name Credit Risk, Portfolio Risk and Credit Rationing;Economica;2014-02-10

4. A Model for Screening Vulnerability in the Loan Market in the Context of Credit Rationing;International Journal of Strategic Decision Sciences;2014-01

5. A: Financial Institutions;World Banking Abstracts;2012-10

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3