INTERLINKAGE, INVESTMENT AND ADVERSE SELECTION

被引：7
|
作者：
BANERJI, S
机构：
[1] Department of Economics, Jadavpur University, Calcutta
来源：
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 1995年 / 28卷 / 01期
关键词：
INTERLINKAGE; TIME PREFERENCE; SHARE CROPPING; CREDIT CONTRACTS; ASYMMETRIC INFORMATION;
D O I：
10.1016/0167-2681(95)00017-5
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The paper explores the nature of interlinked contract under adverse selection where agents intertemporal preferences are private information. Our principal findings are: (a) More patient agents (with low rates of time preferences) are offered credit contracts and others are offered share and credit contracts (i.e. interlinked contracts). (b) Interlinkage of contracts reduces investment (c) and is second-best and the non interlinked contracts is first-best.
引用
收藏
页码：11 / 21
页数：11
相关论文
共 50 条
  • [1] ADVERSE SELECTION, INVESTMENT, AND PROFIT TAXATION
    INNES, R
    EUROPEAN ECONOMIC REVIEW, 1992, 36 (07) : 1427 - 1452
  • [2] A model of collateral, investment, and adverse selection
    Martin, Alberto
    JOURNAL OF ECONOMIC THEORY, 2009, 144 (04) : 1572 - 1588
  • [3] INVESTMENT, CONSUMPTION SMOOTHING WITH CREDIT GUARANTEE AND ADVERSE SELECTION
    Liu, Xiang
    Yang, Zhaojun
    JOURNAL OF INDUSTRIAL AND MANAGEMENT OPTIMIZATION, 2023, 19 (09) : 6948 - 6964
  • [4] Bank regulation, investment, and capital requirements under adverse selection
    Rivera, Thomas J.
    REVIEW OF FINANCE, 2025, 29 (02) : 415 - 465
  • [5] ADVERSE SELECTION, INVESTMENT OPPORTUNITIES, AND UNINSURED RIGHTS ISSUES - EVIDENCE FROM KOREA
    DHATT, MS
    KIM, YH
    MUKHERJI, S
    JOURNAL OF FINANCE, 1995, 50 (03): : 967 - 967
  • [6] Adverse selection and adverse retention
    Altman, D
    Cutler, DM
    Zeckhauser, RJ
    AMERICAN ECONOMIC REVIEW, 1998, 88 (02): : 122 - 126
  • [7] Adverse consequences of adverse selection
    Pauly, M
    Nicholson, S
    JOURNAL OF HEALTH POLITICS POLICY AND LAW, 1999, 24 (05) : 921 - 930
  • [8] ADVERSE INFLUENCE OF INVESTMENT CLIMATE ON INVESTMENT ATTRACTIVENESS OF UKRAINE
    Furdychko, L. Ye
    Pikhotska, O. M.
    FINANCIAL AND CREDIT ACTIVITY-PROBLEMS OF THEORY AND PRACTICE, 2018, 3 (26): : 281 - 291
  • [9] How well do adverse selection components measure adverse selection?
    Van Ness, BF
    Van Ness, RA
    Warr, RS
    FINANCIAL MANAGEMENT, 2001, 30 (03) : 77 - 98
  • [10] Adverse selection spirals
    de Jong, Piet
    Ferris, Shauna
    ASTIN BULLETIN, 2006, 36 (02): : 589 - 628
12345