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Multilateral adverse selection in industrial economics and general equilibrium

Total Cost €


EC-Contrib. €






Project "MASIEGE" data sheet

The following table provides information about the project.


Organization address
address: ALLEE DE BRIENNE, Manufacture des Tabacs 21
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
 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


Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 


 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.


year authors and title journal last update
List of publications.
2015 João 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 João Correia-da-Silva, Joana Pinho, Hélder 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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