haku: @author Barlevy, G. / yhteensä: 3
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| Tekijä: | Barlevy, G. Veronesi, P. |
| Otsikko: | Information acquisition in financial markets |
| Lehti: | Review of Economic Studies
2000 : JAN, VOL. 67:230, p. 79-90 |
| Asiasana: | INFORMATION FINANCIAL MARKETS |
| Kieli: | eng |
| Tiivistelmä: | Previous work on information and financial markets has focused on a special set of assumptions: agents have exponential utility, and random variables are normally distributed. These assumptions are often necessary to obtain closed-form solutions. The authors present an example with alternative assumptions, and demonstrate that some of the conclusions from previous literature fail to hold. In particular, they show that in their example, as more agents acquire information, prices do not necessarily become more informative, and agents may have greater incentive to acquire information. |
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