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Keyword: mechanism design;
2 results found.
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Saul Lach, Zvika Neeman and Mark Schankerman
We study how to design an optimal government loan program for risky R&D projects with positive externalities. With adverse selection, the optimal government contract involves a high interest rate but nearly zero co-finan...Read more...
26 August 2020
Bruno Biais and Thomas Mariotti
We study how securities and trading mechanisms can be designed to optimally mitigate the adverse impact of market imperfections on liquidity. Asset owners seek to obtain liquidity by selling their claims on future cash-f...Read more...