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Trade With Asymmetric Information

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  • Robert Hall

Abstract

This paper reviews the literature on trade with asymmetric information, from the seminal contribution of Akerlof (1970) to the recent paper by Shimer (2013) presented at the XVI Conference of the Central Bank of Chile.

Suggested Citation

  • Robert Hall, 2014. "Trade With Asymmetric Information," Working Papers Central Bank of Chile 739, Central Bank of Chile.
    • Handle: RePEc:chb:bcchwp:739
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    File URL: https://www.bcentral.cl/documents/33528/133326/DTBC_739.pdf
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    References listed on IDEAS

    as
    1. Robert Shimer, 2014. "Private Information in the Mortgage Market: Evidence and a Theory of Crises," Central Banking, Analysis, and Economic Policies Book Series, in: Sofía Bauducco & Lawrence Christiano & Claudio Raddatz (ed.),Macroeconomic and Financial Stability: challenges for Monetary Policy, edition 1, volume 19, chapter 4, pages 117-150, Central Bank of Chile.
    2. Myerson, Roger B. & Satterthwaite, Mark A., 1983. "Efficient mechanisms for bilateral trading," Journal of Economic Theory, Elsevier, vol. 29(2), pages 265-281, April.
    3. Thorsten Koeppl & Jonathan Chiu, 2013. "Trading Dynamics With Adverse Selection and Search," 2013 Meeting Papers 201, Society for Economic Dynamics.
    4. Jonathan Chiu & Thorsten V. Koeppl, 2016. "Trading Dynamics with Adverse Selection and Search: Market Freeze, Intervention and Recovery," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(3), pages 969-1000.
    5. Samuelson, William F, 1984. "Bargaining under Asymmetric Information," Econometrica, Econometric Society, vol. 52(4), pages 995-1005, July.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
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