求关于信用卡的英文文献

TOPIC 1:
Adverse Selection in the Credit Card Market (信用卡市场的逆向选择)

作者及写作年份:
Lawrence M. Ausubel
June 17, 1999

部分摘要:
trading situations where one (informed) party possesses information which is relevant to his (uninformed)trading partner, the informed party may find it advantageous to engage in trade only in states of informationwhich are relatively unfavorable from the viewpoint of the uninformed party. Thus, a firm which offers acontract to the general population may find that the composition of the pool of customers who accept thefirm's contract is inferior to the composition of the general population. The particular contractual termsoffered by the firm may influence the composition of the customer pool and, in some informationalenvironments, adverse selection may lead to a complete unraveling of the market (George A. Akerlof,1970).Many of the economically-richest implications of adverse selection have been drawn in creditmarkets. Hig