《麦肯光明-Asymmetric Information》由会员分享,可在线阅读,更多相关《麦肯光明-Asymmetric Information(30页珍藏版)》请在金锄头文库上搜索。
1、v “ No no or a to it as an or as of to a or a s is to be 1 (20%) 3 (80%). s is to be 0 (80%) 2 (20%). e l l e r s c o s t$0( 8 0 % )s e l l e r s c o s t$2( 2 0 % )b u y e r s v a l u e$1( 2 0 % )t r a d e n o t r a d eb u y e r s v a l u e$3( 8 0 % )t r a d e t r a d it is to it in to to is is to o
2、f is A It is or to a by in of to be 0e a of to on of e to 1be in “a of a to 2to a of is 31000 Q - 1) / Q of 40235781 2 3 8of of a 5028F 8of a 6A a 110 (100%). B a 0 (50%) 220 (50%). 100 %. 5%, a 7x, is 0,1. v, a c, to 8 A is no x+v. to x+1)(1+c)/2. If cv, is no If cvc/2, to is 9is or of 0S&P) coverag