CLEMENZ, G (1993) A NOTE ON THE NONEXISTENCE OF A RATIONING EQUILIBRIUM IN THE BESANKO-THAKOR MODEL. INTERNATIONAL ECONOMIC REVIEW, 34 (3). pp. 727-737. ISSN 0020-6598,
Full text not available from this repository.Abstract
It is shown that in a credit market with two types of borrowers, distinguished only through their not commonly known probability of default, and with a perfectly elastic supply of deposits, a pair of contracts with random rationing of less risky loan applicants cannot be a Nash-equilibrium.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | IMPERFECT INFORMATION; ADVERSE SELECTION; CREDIT MARKETS; |
| Depositing User: | Dr. Gernot Deinzer |
| Last Modified: | 19 Oct 2022 08:42 |
| URI: | https://pred.uni-regensburg.de/id/eprint/53851 |
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