How does investors' information about a country's fundamentals, and the fact that this
information may be asymmetrically held, affect a country's financing cost? Motivated by this …

Uncertainty about ex post realized values is an inherent component in many auction
environments. In this article, we develop a structural framework to analyze auction data …

This paper provides a method for comparing the performance of different models of bidding
behaviour. It uses data on participants' bids but does not require data on their values. I find …

We examine how intermediary capitalization affects asset prices in a framework that allows
for intermediary market power. We introduce a model in which capital-constrained …

An underlying assumption in many principal agent models and its applications is that the
agent has some private information and principal has the bargaining power of setting …

(2) Estimate the slope coefficients, βti, using variation across steps k vtik= ζti− βti× σt× qtik+
ϵtik− vtik is WTP in auction t of dealer i at step k (estimated)− ζti is an auction-dealer fixed …