Papers

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Optimal Information and Security Design

Anton Tsoy , Nicolas Inostroza   Jul 11,2023

Working Paper No.00105-00

An asset owner designs an asset-backed security and a signal about its value. After privately observing the signal, he sells... Read More

The Insurance is the Lemon: Failing to Index Contracts

Benjamin Hebert , Barney Hartman-Glaser   Jan 08,2019

Working Paper No.00049-00

We model the widespread failure of contracts to share risk using available indices. A borrower and lender can share risk... Read More

Selling to Advised Buyers

Andrey Malenko , Anton Tsoy   Dec 14,2016

Working Paper No.00006-00

In many cases, buyers are not fully informed about their valuations and rely on the advice of biased experts. For... Read More