As a result, people invest in banks -the stock of banks -because they understand that these people have a long-term relationship with business and they are immune from the adverse selection.

结果呢,人们就会投资于银行,即购买银行的股票,因为他们知道,银行家和企业界保持着长期的关系,他们可以免受逆向选择之害

耶鲁公开课 - 金融市场课程节选

So, the government created competitors and it privatized them so that both Fannie and Freddie became what are called GSEs -these are Government Sponsored Enterprises.

政府先培育一些行业竞争者,然后再让它们私有化,于是房利美和房地美,成为了所谓的GSEs,即政府支持企业

耶鲁公开课 - 金融市场课程节选

So basically the idea is that the more these firms produce, so the more the total quantity produced q1 + q2, the lower is the price in the marketplace for this product.

核心思想就是两家企业生产得越多,即产量,q1 + q2,越大,该产品的市场价格就越低

耶鲁公开课 - 博弈论课程节选