Then I study the optimal bankruptcy law under this asymmetric information and the effect of judiciary discretion on bankruptcy law and the economic efficiency.
在不完全信息条件下最优破产制度设计的基础上，我们研究了法官的自由裁量权对破产制度和社会经济效率的影响。
However, all of these remueration contracts cannot produce a best effect because of the transaction cost and the asymmetric information.
这些证券契约发挥作用的关键之处就在于为利益相关者之间提供一种信息沟通机制，缓解他们之间的信恩不对称问题。
In an asymmetric information credit market, interest rate and collateral requirements have adverse selection effect to different risk preference, and may cause moral hazard.
在信息不对称的信贷市场中，贷款利率和担保要求对于不同风险偏好的借款者会产生逆向选择效应，并且可能会引发道德风险。
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