【ppt精品課件】貨幣金融學(xué)7版英文課件--8-大學(xué)課件20(編輯修改稿)
2025-01-21 13:29 本頁面
【文章內(nèi)容簡介】 od and bad securities’ values. 2. Result: Good securities undervalued and firms won’t issue them。 bad securities overvalued, so too many issued. 3. Investors won’t want to buy bad securities, so market won’t function well. Explains Puzzle 2 and Puzzle 1. Also explains Puzzle 6: Less asymmetric information for well known firms, so smaller lemons problem 7 169。 2023 Pearson Education Canada Inc. Tools to Help Solve Adverse Selection (Lemons) Problem 1. Private Production and Sale of Information Freerider problem interferes with this solution 2. Government Regulation to Increase Information Explains Puzzle 5 3. Financial Intermediation A. Analogy to solution to lemons problem provided by usedcar dealers B. Avoid freerider problem by making private loans Explains Puzzles 3 and 4 4. Collateral and Net Worth Explains Puzzle 7 8 169。 2023 Pearson Education Canada Inc. Moral Hazard: Debt versus Equity Moral Hazard in Equity:
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