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| Tekijä: | Parlour, C. A. Rajan, U. |
| Otsikko: | Competition in loan contracts |
| Lehti: | American Economic Review
2001 : DEC, VOL. 91:5, p. 1311-1328 |
| Asiasana: | Loans Competition Contracts |
| Kieli: | eng |
| Tiivistelmä: | The authors present a model of an unsecured loan market. Many lenders offer loan contracts to a borrower. The borrower may accept more than one contract. Lenders earn a positive profit, and may even charge the monopoly price. The positive-profit equilibria are robust to increases in the number of lenders. Despite the absence of asymmetric information, the competitive outcome does not obtain in the limit. |
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