Lender learning and entry under general demand uncertainty

被引：0
|
作者：
Jain, Neelam [1 ]
Mirman, Leonard J. [2 ]
机构：
[1] City Univ London, Dept Econ, London EC1V 0HB, England
[2] Univ Virginia, Dept Econ, Charlottesville, VA 22903 USA
来源：
REVIEW OF ECONOMIC DESIGN | 2011年 / 15卷 / 02期
关键词：
Entry; Information; Learning; Contracts; EXPERIMENTATION; INFORMATION; MONOPOLY;
D O I：
10.1007/s10058-011-0108-0
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper, we examine the effect of potential entry on learning by a lender when the demand shock has a general distribution. We show that under this type of noise, entry does not lead to any changes in the equilibrium expected signals and therefore, there is no effect on learning by the lender, unlike the case when noise is uniformly distributed. The result holds even when contracts are not observable.
引用
收藏
页码：163 / 175
页数：13
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