Are small investors naive about incentives?
نویسندگان
چکیده
منابع مشابه
Are small investors naïve?
Traditional economic analysis of markets with asymmetric information assumes that the uninformed agents account for incentives of the informed agents to distort information. We analyze whether investors in the stock market are able to account for such incentive distortions. Security analysts provide investors with information about investment opportunities by issuing buy and sell recommendation...
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ژورنال
عنوان ژورنال: Journal of Financial Economics
سال: 2007
ISSN: 0304-405X
DOI: 10.1016/j.jfineco.2007.02.001