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BEGIN:VEVENT
UID:96a73b5ed759b5514c03bd111f19710d
CATEGORIES:Seminars
CREATED:20161213T173221
SUMMARY:Lunch Seminar: Sergei Kovbasyuk - EIEF
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>The Role of Memory in Lemons Market
 s</strong></p><p style="text-align: justify;">Abstract:</p><p style="text-a
 lign: justify;">Information is often recorded and stored independently of t
 he will of the parties it relates to, and then made available to third part
 ies. Law enforcement agencies, credit registers, Google and Facebook, for e
 xample, keep substantial amount of information about individuals’ past. Typ
 ically, part of the information is erased from the public records with time
 , that is, becomes forgotten. Should information be forgotten, and if yes, 
 how fast? And should good past information be forgotten faster than bad, as
  in many legal systems, or the other way around? We answer these questions 
 in a dynamic model of markets with adverse selection. We show that in these
  markets it is typically optimal to keep negative records for a long time, 
 while positive records should be forgotten rapidly to avoid market breakdow
 n.</p>
DTSTAMP:20260404T090326Z
DTSTART:20150609T130000Z
DTEND:20150609T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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