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Get Distance And Private Information In Lending - Sumit's Home Page

Orces shaping economic exchange. Agents often devote considerable resources in terms of time, effort, and money to its acquisition in order to gain a strategic advantage in the ensuing transaction, especially by collecting soft information. At the same time, very little is known about the origins, use, and consequences of such subjective intelligence despite its economic importance (Aghion and Tirole 1997; Stein 2002), in part because it has eluded easy categorization so far (but see Petersen 20.

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