class: center, middle, inverse, title-slide # DSBA 20598 – FinTech and Blockchains ## Lecture 8: Competing in Adverse Selection Markets ### Prof. Silvio Petriconi ### Department of Finance, Bocconi University ### 2019-11-14 (updated: 2019-11-14) --- class: inverse, left background-image:url("img/arm-wrestling-567950_1920.jpg") background-position: left background-size: cover #Competing in Adverse Selection Markets -- ### | Adverse selection ### | Which and how much information should you acquire? ### | Information and competition ### | Free-riding problems and other issues ### | Appendix: References --- class:inverse,middle,center # Appendix: References --- # References * Banerjee, Priyodorshi (2005), ["Information Acquisition Under Uncertainty in Credit Markets"](https://academic.oup.com/rfs/article-abstract/18/3/1075/1617720), _Review of Financial Studies_ 18(3), 1075-1104 * Broecker, Thorsten (1990), ["Credit-worthiness tests and interbank competition"](https://www.jstor.org/stable/2938210?seq=1#metadata_info_tab_contents), _Econometrica_ 58(2), 429-452. * Grossman, Sanford and Joseph Stiglitz (1980), ["On the Impossibility of Informationally Efficient Markets"](https://www.jstor.org/stable/1805228), _American Economic Review_ 70(3), 393-408. * Hauswald, Robert and Robert Marquez (2006), ["Competition and Strategic Information Acquisition in Credit Markets"](https://doi.org/10.1093/rfs/hhj021), _Review of Financial Studies_ 19(3), 967-1000 * Manove, Michael and Jorge Padilla and Marco Pagano (2001), ["Collateral versus Project Screening: A Model of Lazy Banks"](https://www.jstor.org/stable/2696390), _RAND_ 32(4), 726-744 * Petriconi, Silvio (2016), ["Bank Competition, Information Choice and Inefficient Lending Booms"](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2705043), SSRN Working Paper * Ruckes, Martin (2004), ["Bank Competition and Credit Standards"](https://doi.org/10.1093/rfs/hhh011), <br>_Review of Financial Studies_ 17(4), 1073–1102 --- class: center, middle # Thanks! More material on [https://silviopetriconi.github.io](https://silviopetriconi.github.io). For questions, comments and suggestions regarding these slides please contact the author, [`silvio.petriconi@unibocconi.it`](mailto:silvio.petriconi@unibocconi.it). <br></br> [](http://creativecommons.org/licenses/by-nc-sa/4.0/) <br></br> This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](http://creativecommons.org/licenses/by-nc-sa/4.0/).