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- W4372283295 abstract "A seller posts a price for a single object. The seller's and buyer's values may be interdependent. We characterize the set of payoff vectors across all information structures. Simple feasibility and individual-rationality constraints identify the payoff set. The buyer can obtain the entire surplus; often, other mechanisms cannot enlarge the payoff set. We also study payoffs when the buyer is more informed than the seller, and when the buyer is fully informed. All three payoff sets coincide (only) in notable special cases -- in particular, when there is complete breakdown in a ``lemons market'' with an uninformed seller and fully-informed buyer." @default.
- W4372283295 created "2023-05-07" @default.
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- W4372283295 creator A5063696443 @default.
- W4372283295 date "2023-05-04" @default.
- W4372283295 modified "2023-10-18" @default.
- W4372283295 title "Lemonade from Lemons: Information Design and Adverse Selection" @default.
- W4372283295 doi "https://doi.org/10.48550/arxiv.2305.02994" @default.
- W4372283295 hasPublicationYear "2023" @default.
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