The Economics of Asymmetric Information

  • Authors
  • Brian¬†Hillier

Table of contents

  1. Front Matter
    Pages i-xvi
  2. Investment Finance and Asymmetric Information

  3. Asymmetric Information Problems in the Insurance Market

    1. Front Matter
      Pages 75-75
    2. Brian Hillier
      Pages 77-89
    3. Brian Hillier
      Pages 90-97
    4. Brian Hillier
      Pages 98-112
  4. The Labour Market: Education, Signalling, Screening and Efficiency Wages

    1. Front Matter
      Pages 113-113
    2. Brian Hillier
      Pages 115-127
  5. Regulation, Public Procurement and Auctions

    1. Front Matter
      Pages 137-137
    2. Brian Hillier
      Pages 139-152
    3. Brian Hillier
      Pages 153-174
  6. Back Matter
    Pages 175-188

About this book


This book presents recent developments in the economics of asymmetric information. The problems of selection and moral hazard, with hidden actions or hidden information, are introduced by examining how they affect the market for investment finance. The ideas are then used to analyse the market for insurance, signalling and screening models of education, efficiency wages, industrial regulation, public procurement and auctions. Coverage is thorough while avoiding excessive mathematical detail. Diagrams and verbal reasoning make the ideas accessible to intermediate level undergraduate students and beyond.


efficiency finance insurance Investment labour

Bibliographic information