Repurchase Options in the Market for Lemons.

We study repurchase options (repo contracts) in a competitive asset market with adverse selection. Gains from trade emerge from a liquidity need, but private information about asset quality prevents the full realization of trades. In equilibrium, a single repo contract pools all assets. The embedded...

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Publicado en:	Review of Economic Studies Vol. 93; no. 4; pp. 2390 - 2424
Autores principales:	Bigio, Saki, Shi, Liyan
Formato:	Artículo
Publicado:	Oxford University Press / USA Jul2026
Materias:	Repurchase agreements Adverse selection (Commerce) Market equilibrium Mortgage-backed securities Liquidity (Economics)
Acceso en línea:	Ver este registro en EBSCOhost