ウィルソンについては
小平論考
参照文献
Akerlof, George, (1970), “The Market for Lemons: Quality Uncertainty and the Market Mechanism,” Quarterly Journal of Economics 84, 488-500. Cho, In-Koo, and David Kreps (1987), “Signaling Games and Stable Equilibria,” Quarterly Journal of Economics 102, 179-221. Gibbons, Robert, (1992), Game Theory for Applied Economists, Princeton University Press.（福岡正夫，須田伸一訳『経済学のためのゲーム理論入門』，創文社，１９９５年）
Kreps, David, (1990), ACourse in Microeconomic Theory, Harvester Wheatsheaf. Mas-Colell, Andrea, Michael Whinston, and Jerry Green (1995), Microeconomic Theory, Oxford University Press. Riley, John, (1979), “Informational Equilibria,” Econometrica 47, 331-359.
Rothchild, Michael, and Joseph Stiglitz (1976), “Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information,” Quarterly Journal of Economics 90, 629-649.
Spence, Michael, (1973), “Job Market Signalling,” Quarterly Journal of Economics 87, 296-332.
Spence, Michael, (1974), “Competitive and Optimal Responces to Signaling; An Analysis of Efficiency and Distribution,” Journal of Economic Theory 8, 296332.
Wilson, Charles, (1977), “A Model of Insurance Markets with Incomplete Information,” Journal of Economic Theory 16, 167-207. Wilson, Charles, (1979), “Equilibrium and Adverse Selection,” American Economic Review 69 (papers and proceedings), 313-17.
Wilson, Charles, (1980), “The Nature of Equilibrium in Markets with Adverse Selection,” Bell Journal of Economics 11, 108-30.
小平裕(2015)，「隠された情報と逆選択」，成城大学『経済研究』２０８号，25-45。
スペンスの方が早いかも
Another modelEdit
For a signal to be effective, certain conditions must be true. In equilibrium the cost of obtaining the credential must be lower for high productivity workers and act as a signal to the employer such that they will pay a higher wage.
In this model it is optimal for the higher ability person to obtain the credential (the observable signal) but not for the lower ability individual. The table shows the outcome of low ability person l and high ability person hwith and without signal S*:
Summary of the outcome for l and h with and without S*| Person | Without Signal | With Signal | Will the person obtain the signal S*? |
|---|
| l | Wo | W* - C'(l) | No, because Wo > W* - C'(l) |
| h | Wo | W* - C'(h) | Yes, because Wo < W* - C'(h) |
The structure is as follows: There are two individuals with differing ability (productivity) levels.
- A higher ability / productivity person: h
- A lower ability / productivity person : l
The premise for the model is that a person of high ability (h) has a lower cost for obtaining a given level of education than does a person of lower ability (l). Cost can be in terms of monetary, such as tuition, or psychological, stress incurred to obtain the credential.
- Wo is the expected wage for an education level less than S*
- W* is the expected wage for an education level equal or greater than S*
For the individual:
- Person(credential) - Person(no credential) ≥ Cost(credential) → Obtain credential
- Person(credential) - Person(no credential) < Cost(credential) → Do not obtain credential
Thus, if both individuals act rationally it is optimal for person h to obtain S* but not for person l so long as the following conditions are satisfied.
Edit: note that this is incorrect with the example as graphed. Both 'l' and 'h' have lower costs than W* at the education level. Also, Person(credential) and Person(no credential) are not clear.
Edit: note that this is ok as for low type "l": 
, and thus low type will choose Do not obtain credential.
Edit: For there to be a separating equilibrium the high type 'h' must also check their outside option; do they want to choose the net pay in the separating equilibrium (calculated above) over the net pay in the pooling equilibrium. Thus we also need to test that: 
Otherwise high type 'h' will choose Do not obtain credential of the pooling equilibrium.
For the employers:
- Person(credential) = E(Productivity | Cost(credential) ≤ Person(credential) - Person(no credential))
- Person(no credential) = E(Productivity | Cost(credential) > Person(credential) - Person(no credential))
In equilibrium, in order for the signalling model to hold, the employer must recognize the signal and pay the corresponding wage and this will result in the workers self-sorting into the two groups. One can see that the cost/benefit structure for a signal to be effective must fall within certain bounds or else the system will fail.[4]
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produces a lower quality good than the inefficient one, and the principal prefers a high quality good. The first- best productions are now defined by Sq q∗ = and Sq ̄q∗ ̄ = With our assumption on Sq , the first-best production schedule is such that ̄. q∗ < ̄q∗, i.e., ... By this action we would obtain a pooling allocation at D. However, the principal can do better by choosing another pooling allocation, which is obtained by moving ...
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^^323化1 〔1977〕は,労働者が 2 つのタイプしか存在しない場合にはウィルソン均衡が
唯一存在すること,両者を情報的に分離しつつ, ... 情報的に分離した労働者のタイプごと
に賃金と期待限界生産性が一致するのではなく,複数の賃金契約が連携して初めて超過
利潤 ... しかし,以上のような想定は雇い主のありうべき戦略的行動の例示に過ぎず,より
一般的な戦略的行動の定式化のもとで安定的なシグナ 9 ング均衡を導く理論的作業は,
...
書籍の全文が表示されない理由
ー
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Luis C. Corchón, Marco A. Marini - 2018 - プレビュー - 他の版 This is first best optimal, the risk-neutral seller bears all the risk and extracts the whole surplus. Note that, if contracts ... With private information, the first best becomes unfeasible. Given the incentive ... Figure 15.1 depicts the Wilson-Miyazaki-Spence (WMS; Wilson, 1977, Miyazaki, 1977, Spence, 1978) second-best allocation ...https://books.google.co.jp/books?isbn...
The basic idea is to introduce taxes that control payoff externalities, so that the complete information equilibrium coincides with the first best allocation, and make ... Wilson (1977) considers a first-price auction ( the bidder with the highest bid wins the object and pays his bid) where buyers have some private information about ... https://books.google.co.jp/books?isbn...
11.4 Utilities V(pH,CHA ) possibilities frontier First-Best Pooling F M-W-S Allocation V(pL,CLA) the requirement that each type of contract break even individually. ... either through the application of non-Nash equilibrium concepts (Wilson 1977; Riley 1979; Miyazaki 1977) or by considering alternative extensive form models of ... https://books.google.co.jp/books?id...
incentives for precaution and risk allocation Elga Bartsch. age prevented, i.e., a = l.162 According to [D.53], first-best precautionary measures are only achieved in some special cases. These special cases include ... The existence of stable market equilibria has been analysed by Rothschild and Stiglitz (1976), Wilson ( 1977) ... https://books.google.co.jp/books?id...
... Economy in Government of the Joint Economic Committee, Congress of the United States, Ninety-fifth Congress, First Session-Ninety-ninth Congress, Second Session United States. ... General WILSON. ... That's a very good question, sir. https://books.google.co.jp/books?id...
... in Government of the Joint Economic Committee, Congress of the United States, Ninety-fourth Congress, First [-second] Session, Executive Sessions . ... General Wilson. ... in last year's hearing, the fact that in missiles, especially, they build not only the best design model in the system, but the losing design as well. https://books.google.co.jp/books?id...
Section two reviews the intuition behind the Wilson result Section three establishes the two results of the paper. First, 1 show that the power of compulsion is not needed for the government to be able to Pareto improve on the Wilson equilibrium. ... A useful concept therefore in markets with adverse selection is the set of second-best Pareto efficient allocations. ... Grossman ( 1979), Riley (1979), and Wilson (1977), do not necessarily produce even second -best Pareto efficient outcomes, ... https://books.google.co.jp/books?id...
Realizing that the aforementioned allocation of the proceeds from the chattel sale was not in its bestinterest, FmHA, on January 23, 1981, ... as interest to the note of February 20, 1976, and $12,855.57 as principal and $5,181.55 as interest to the note of February 17, 1977. ... CONTENTION OF GEORGIA WILSON: Georgia Wilson contends, first, that she was awarded possession of the real property in ... https://books.google.co.jp/books?id...
Elhanan Helpman, Assaf Razin, Efraim Sadka - 1983 - スニペット表示 - 他の版 Differentiating (52) with respect to y\ , p\,y2, and p2, we obtain the following first order conditions: C/rf0i.yi.Pi) -fiU2(Ih, y\. ... a first-best allocation. It follows from Sadka (1976b) that at the first-bestoptimum, the rich are worse off than the poor.https://books.google.co.jp/books?id...
Here, as in (i), the first-best outcome can be attained by the equilibrium sharing rule or by a system of statecontingent ... We would then run into problems of ex ante vs. ex post welfare comparisons (Hammond (1981), Wilson (1978)), ... This case is Model II of Harris and Raviv (1979), and has also been extensively dealt with in the literature on optimal income taxation (Mirrlees (1977), Cootes (1978), ...
