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Publicação
Must Sell
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Resumo(s)
Why are moving sales a successful and widespread phenomenon? How can it be optimal for a seller to disclose her low valuation for the item to be sold? We propose an explanation based on the "lemons problem" in bargaining with asymmetric information about quality. Disclosing a low valuation signals that there are significant gains from trade, so that trade takes place when it wouldn't otherwise and all agents are made better off.
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Citação
Cabral, Luís and Sakovics, Jozsef, Must Sell (May, 1994). FEUNL Working Paper Series No. 222