Ex ante information asymmetry -- Example model (Nachman & Noe 1994) -- Securities -- Actions and beliefs -- Valuation -- Entrepreneur payoffs and strategies -- Investor beliefs and price assignment -- Perfect Bayesian Equilibrium (PBE) -- D1 refinement of PBE (Cho & Kreps) -- Mathematics of security design -- The dual problem and solution -- Stochastic dominance and debt -- Conditional stochastic dominance
Notes
Animated audio-visual presentation with synchronized narration