Costs and benefits of dynamic trading in a lemons market

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Show simple item record Fuchs, William Skrzypaczc, Andrzej 2021-07-08T08:44:34Z 2020-11-16T14:55:23Z 2019-07
dc.identifier.bibliographicCitation Fuchs, W., Skrzypacz, A. (2019). Costs and benefits of dynamic trading in a lemons market. Review of Economic Dynamics, 33, 105–127
dc.identifier.issn 1094-2025
dc.description.abstract We study a dynamic market with asymmetric information that creates the lemons problem. We compare efficiency of the market under different assumptions about the timing of trade. We identify positive and negative aspects of dynamic trading, describe the optimal market design under regularity conditions and show that continuous-time trading can always be improved upon if sellers are present at . Instead, continuous trading is optimal if sellers arrive stochastically over time.
dc.description.sponsorship Fuchs gratefully acknowledges support from the ERC Grant #681575.
dc.language.iso eng
dc.publisher Elsevier
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights © 2019 The Authors
dc.subject.other Adverse selection
dc.subject.other Bankruptcy
dc.subject.other Market design
dc.subject.other Rrading frequency
dc.title Costs and benefits of dynamic trading in a lemons market
dc.type article PeerReviewed
dc.subject.jel D82
dc.subject.jel G14
dc.subject.jel G18
dc.subject.jel D02
dc.subject.jel D86
dc.subject.jel E58
dc.subject.jel E60
dc.subject.jel G01
dc.subject.eciencia Economía
dc.rights.accessRights openAccess
dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/681575
dc.type.version publishedVersion
dc.identifier.publicationfirstpage 105
dc.identifier.publicationlastpage 127
dc.identifier.publicationtitle Review of Economic Dynamics
dc.identifier.publicationvolume 33
dc.identifier.uxxi AR/0000024964
dc.contributor.funder European Commission
dc.affiliation.dpto UC3M. Departamento de Economía
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