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A Game Theoretic Foundation for the Stiglitz-Weiss Model

Arnold, Lutz G. (2007) A Game Theoretic Foundation for the Stiglitz-Weiss Model. Working Paper.

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Abstract

Contrary to what is usually assumed in the literature, the return function (i.e., the relation between the interest rate on loans and the resulting rate of return) cannot be globally humpshaped in the Stiglitz-Weiss (1981) adverse selection model with a continuum of borrower types. It is possibly non-monotonic, but it attains its global maximum at the maximum interest rate beyond which there ...

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Item Type:Monograph (Working Paper)
Date:2007
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold)
Research groups and research centres:Immobilien- und Kapitalmärkte
Keywords:Key words: credit rationing, redlining, asymmetric information.
Subjects:300 Social sciences > 330 Economics
Status:Published
Refereed:Unknown
Created at the University of Regensburg:Unknown
Owner: Universitätsbibliothek Regensburg
Deposited On:28 Jun 2010 08:52
Last Modified:13 Mar 2014 14:03
Item ID:15578
Owner Only: item control page
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