Scandinavian Working Papers in Economics
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The Economic Research Institute, Stockholm School of Economics SSE/EFI Working Paper Series in Economics and Finance

No 273:
Auctioned and Re-Auctioned Children in 19th Century Sweden

Mats A. Bergman () and Sofia Lundberg ()

Abstract: During the 19th century, poor and orphan Swedish children were boarded out. The foster-parents' compensation was determined in English auctions. Some children were re-auctioned. We use historical data from such auctions to study whether informational asymmetry and possibly adverse selection affected the outcome in the market for re-auctioned children. The empirical findings are consistent with adverse selection.

Keywords: Adverse selection; asymmetric information; common value; English auction; private values.; (follow links to similar papers)

JEL-Codes: D44; N33; (follow links to similar papers)

32 pages, October 22, 1998

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