An example of non-existence of Riley equilibrium in markets with adverse selection.

Eduardo M. Azevedo Daniel Gottlieb

Published in: Games Econ. Behav. (2019)

Keyphrases

moral hazard
adverse selection
electronic markets
market equilibrium
electronic commerce
equilibrium point
mechanism design
principal agent
infinite horizon
market participants
information systems
case study
erp systems
incentive compatible
game theory
construction project