Adverse selection, efficiency and the structure of information
This paper explores how the structure of asymmetric information impacts on economic outcomes in Akerlof’s (Q J Econ 84(3):488–500, 1970) Lemons model applied to the labour market and extended to admit a matching component between worker and firm. We characterize the nature of equilibrium and define...
| Main Authors: | , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Springer
2020
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