Publications
Publications
- June 2021
- European Financial Management
Symmetric Ignorance: The Cost of Anonymous Lemons
By: Amar Bhidé
Abstract
Rules that restrict information required in negotiated private transactions have spurred a vast increase in the scope of anonymous financial markets, particularly in the United States. The subtle costs of the information‐restricting rules raise questions about the social value of “completing” anonymous markets that would not naturally survive and did not historically exist.
Keywords
Information Asymmetry; Liquidity; Regulation; Securities Markets; Securitization; Information; Financial Liquidity; Financial Markets; Governing Rules, Regulations, and Reforms
Citation
Bhidé, Amar. "Symmetric Ignorance: The Cost of Anonymous Lemons." European Financial Management 27, no. 3 (June 2021): 414–425.