Chapter 17
Asymmetric Information and Moral Hazard
Information complète et information asymétrique : sens
Complete information means all participants in a transaction know all relevant details. For example, in perfect competition, both buyers and sellers know ...
Qualité observable
A market with observable quality allows both buyers and sellers to clearly assess the quality of goods being traded. This transparency enables both ...
Le problème des citrons : les vendeurs ont plus d’informations
The Lemons Problem refers to a market characterized by asymmetric information, where the seller has more knowledge about the quality of the product being ...
Le problème des citrons : l’antisélection sur le marché des voitures d’occasion
Adverse selection occurs when products of varying quality are all sold at the same price. These products are sold at a single price irrespective of their ...
Atténuer le problème des citrons I : Réduire l’asymétrie de l’information
Asymmetric information is a situation where one party in a transaction possesses more information than the other. However, several strategies can help ...
Atténuer le problème des citrons II : Augmenter la qualité moyenne sur le marché
The Lemons Market problem describes a scenario of asymmetric information, where the seller knows more about the product's quality than the buyer. In such ...
Atténuer le problème des citrons III : des rapports de qualité véridiques
Asymmetric information occurs when one party in a transaction has more knowledge about the product than the other, potentially leading to market ...
L’antisélection lorsque les acheteurs ont plus d’information : le marché de l’assurance
Adverse selection arises when products of differing quality are sold at a uniform price. This pricing approach persists due to asymmetric information, ...
Atténuer l’antisélection sur le marché de l’assurance
A life insurance company is more likely to make payouts when policyholders exhibit specific risk factors. Therefore, companies evaluate a range of factors ...
Aléa moral
Moral hazards arise due to information asymmetry between buyers and sellers in a market. This occurs when one party cannot monitor the actions of the ...
L’aléa moral sur le marché de l’assurance
A moral hazard occurs when a party in a transaction neglects their responsibilities because they know that the other party will bear the financial ...
L’aléa moral dans le secteur bancaire
Moral hazards arise from information asymmetry, where one party cannot fully monitor the other's actions. This lack of observability may lead the ...
Atténuation de l’aléa moral
Moral hazard refers to the situation where individuals or entities take greater risks because they do not bear the full consequences of their actions. ...
Relations mandant-agent
A principal-agent relationship exists when one individual or group, the principal, depends on another individual or group, the agent, to take actions that ...
Incitations dans la relation mandant-agent
In a principal-agent relationship, the primary challenge is aligning the agent's actions with the principal's objectives. This is especially difficult ...
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