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| Tekijä: | Marin, J. M. Rahi, R. |
| Otsikko: | Speculative securities |
| Lehti: | Economic Theory
1999 : VOL. 14:3, p. 653-668 |
| Asiasana: | ECONOMETRICS BUSINESS INFORMATION SECURITIES TRADING VOLUMES |
| Vapaa asiasana: | SUNSPOTS FUTURES CONTRACTS |
| Kieli: | eng |
| Tiivistelmä: | This paper studies the problem of security design in an asset market with asymmetrically informed traders. An optimal asset may be a speculative security, an asset whose payoff depends in part on a random shock uncorrelated with economic fundamentals about which some traders have superior information. |
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