Now showing items 1351-1358 of 1358
Pre-auction Investments by Type-conscious Agents
(2006-09)
This paper examines pre-auction investments made by asymmetric agents that compete for a supply contract from a monopolist principal. Agents are privately aware of their managerial efficiencies which determine how well ...
Greenwash: Corporate Environmental Disclosure under Threat of Audit
(2006-03)
We develop an economic model of "greenwash," in which a firm strategically discloses environmental information and a non-governmental organization (NGO) may audit and penalize the firm for failing to fully disclose its ...
On the Economics of Securitization: A Framework and Some Lessons from U.S. Experience
(2007-05)
The paper provides a framework for analyzing the development of securitization as a vehicle for funding loans. Broadly speaking there are two models for funding loans: the portfolio lender model, which typically involves ...