Information-based trade
نویسندگان
چکیده
We study the possibility of trade for purely informational reasons. We depart from previous analyses (e.g. Grossman and Stiglitz (1980) [22] and Milgrom and Stokey (1982) [32]) by allowing the final payoff of the asset being traded to depend on an action taken by its eventual owner. We characterize conditions under which equilibria with trade exist. © 2010 Elsevier Inc. All rights reserved. JEL classification: D8; G1
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 145 شماره
صفحات -
تاریخ انتشار 2010