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MASIEGE

Multilateral adverse selection in industrial economics and general equilibrium

Total Cost €

EC-Contrib. €

Partnership

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Outcomes and
results

MASIEGE project word cloud

Explore the words cloud of the MASIEGE project. It provides you a very rough idea of what is the project "MASIEGE" about.

macroeconomic firms weakness agents equilibrium never competitive reveals distinguish amenable types validity purchases small cheapest oligopolistic she private environment plagued adverse cooperate interpreted brings multilateral implications constitute investigations policy contexts good insights corresponding purchased he industries economic competition firm made perfectly market seeking trick goods otherwise collusive cascade cooperative knowing sign relatively receive understand quality approximately weak it preferences distinguishing willingness building physical trading divide scope blocks obtain analytical agent

Project "MASIEGE" data sheet

The following table provides information about the project.

Coordinator	FONDATION JEAN-JACQUES LAFFONT,TOULOUSE SCIENCES ECONOMIQUES Organization address address: ALLEE DE BRIENNE, Manufacture des Tabacs 21 city: TOULOUSE postcode: 31000 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	France [FR]
Project website	http://www.tse-fr.eu/fr/masiege
Total cost	138˙807 €
EC max contribution	138˙807 € (100%)
Programme	1. H2020-EU.1.3.2. (Nurturing excellence by means of cross-border and cross-sector mobility)
Code Call	H2020-MSCA-IF-2014
Funding Scheme	MSCA-IF-EF-ST
Starting year	2015
Duration (year-month-day)	from 2015-09-01 to 2017-02-28

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	FONDATION JEAN-JACQUES LAFFONT,TOULOUSE SCIENCES ECONOMIQUES FONDATION JEAN-JACQUES LAFFONT,TOULOUSE SCIENCES ECONOMIQUES Organization address address: ALLEE DE BRIENNE, Manufacture des Tabacs 21 city: TOULOUSE postcode: 31000 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	FR (TOULOUSE)	coordinator	138˙807.00

Map

Project objective

It is aimed to understand the economic consequences of multilateral private information, and to obtain corresponding policy implications. The focus will be on two types of contexts: (i) oligopolistic firms seeking to constitute a collusive agreement, having private information about their costs and/or the quality of their products; (ii) agents trading in an otherwise perfectly competitive environment, having private information about their preferences and/or the quality of the products that they bring to the market. In the presence of multilateral adverse selection, a small number of firms may not be able to reach a cooperative agreement to divide the market if a firm's willingness to cooperate is interpreted as a sign of weakness by the other firms. Knowing that the other firms are willing to cooperate and, therefore, are relatively weak, if a firm is still willing to cooperate, this reveals its weakness to an even greater extent. As a result of such a cascade, firms may never be able to establish a cooperative agreement. In an otherwise perfectly competitive environment plagued by adverse selection, if an agent purchases a good that he/she cannot distinguish from other goods, the agent should receive the good that is the cheapest among those that he/she cannot distinguish from the purchased good. General equilibrium analysis of such economic contexts can be made possible by using an analytical trick of distinguishing goods not only by their physical characteristics but also by the agent that brings them to the market. The novel insights generated from these investigations, and the understanding of their scope of validity, matter to competition policy in oligopolistic and approximately competitive industries. They can also be used as building blocks for further research. In particular, general equilibrium results should be amenable of application to macroeconomic modelling and policy design.

Publications

List of publications.
year	authors and title	journal	last update
2015	JoÃ£o Correia-da-Silva Generic non-existence of general equilibrium with EUU preferences under extreme ambiguity published pages: 185-191, ISSN: 0304-4068, DOI: 10.1016/j.jmateco.2015.09.007	Journal of Mathematical Economics 61	2019-07-23
2016	JoÃ£o Correia-da-Silva, Joana Pinho, HÃ©lder Vasconcelos Sustaining collusion in markets with entry driven by balanced growth published pages: 1-34, ISSN: 0931-8658, DOI: 10.1007/s00712-015-0464-2	Journal of Economics 118/1	2019-07-23

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