Information Efficiency and Financial Stability
نویسندگان
چکیده
منابع مشابه
On information efficiency and financial stability
We study a simple model of an asset market with informed and non-informed agents. In the absence of non-informed agents, the market becomes information efficient when the number of traders with different private information is large enough. Upon introducing non-informed agents, we find that the latter contribute significantly to the trading activity if and only if the market is (nearly) informa...
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ژورنال
عنوان ژورنال: Economics
سال: 2010
ISSN: 1864-6042
DOI: 10.5018/economics-ejournal.ja.2010-20