Browsing ECO Articles by Subject "heterogeneity of beliefs"

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Browsing ECO Articles by Subject "heterogeneity of beliefs"

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    Title: A Costly State Verification Model with Diversity of Opinions  Author(s): CARLIER, Guillaume; RENOU, Ludovic Date: 2005 Type of Publication: Article Abstract: In simple models of borrowing and lending with ex-post asymmetric information, Gale and Hellwig (1985) and Williamson (1986) have shown that optimal debt contracts are simple debt contracts where borrowers repay a fixed ...