On run-preventing contract design

Yoshihiro Ohashi

    研究成果: Article

    1 引用 (Scopus)

    抜粋

    This study considers how to implement an efficient allocation of a financial intermediation model, including liquidation costs. The main result shows that there is a mechanism such that, for any liquidation cost, an efficient allocation is implementable in strictly dominant strategies. There is no need for third-party assistance, such as deposit insurance. In addition, the mechanism is tolerant of a small, unexpected shock caused by premature withdrawals.

    元の言語English
    ページ(範囲)63-72
    ページ数10
    ジャーナルB.E. Journal of Theoretical Economics
    15
    発行部数1
    DOI
    出版物ステータスPublished - 2014 12 1

    ASJC Scopus subject areas

    • Economics, Econometrics and Finance(all)

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