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Symmetric ignorance: The cost of anonymous lemons
Author(s) -
Bhidé Amar
Publication year - 2021
Publication title -
european financial management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.311
H-Index - 64
eISSN - 1468-036X
pISSN - 1354-7798
DOI - 10.1111/eufm.12298
Subject(s) - ignorance , private information retrieval , business , scope (computer science) , value (mathematics) , microeconomics , law and economics , internet privacy , economics , commerce , computer security , law , political science , computer science , machine learning , programming language
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.