DocumentCode
1569553
Title
New Development Trends of Classical Models of Market Behaviour
Author
Sagi, Andras ; Pataki, Eva
Author_Institution
Fac. of Econ. Subotica, Subotica
fYear
2007
Firstpage
221
Lastpage
224
Abstract
The work reviews and analyzes the theory of asymmetric information and agent theory. The first part presents the possibility of bankruptcy or market disturbance because of asymmetric informativeness of market participants. It considers the connectivity of asymmetric information with uncertainty and "moral hazard" following market transactions in terms of asymmetric informativeness. It also explains the process of counter-selection at the market. The second part presents agent theory and its similarities with the theory of asymmetric information are stated.
Keywords
consumer behaviour; information management; microeconomics; agent theory; asymmetric information theory; asymmetric informativeness; bankruptcy; market behaviour classical model; market disturbance; market participants; market transactions; moral hazard; Costs; Ethics; Hazards; Informatics; Information analysis; Insurance; Intelligent systems; Microeconomics; Vehicles; Warranties; agent theory; asymmetric information; hidden action; hidden information; moral hazard;
fLanguage
English
Publisher
ieee
Conference_Titel
Intelligent Systems and Informatics, 2007. SISY 2007. 5th International Symposium on
Conference_Location
Subotica
Print_ISBN
978-1-4244-1442-0
Electronic_ISBN
978-1-4244-1443-7
Type
conf
DOI
10.1109/SISY.2007.4342655
Filename
4342655
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