Information and Competitive Price Systems
About: This article is published in The American Economic Review. The article was published on 01 May 1976. and is currently open access. The article focuses on the topics: Mid price & Reservation price.
read more
Chat with Paper
AI Agents for this Paper
Find similar papers on Google Scholar, PubMed and Arxiv
Write a critical review of this paper
Analyze citations of this paper to find unaddressed research gaps
Citations
Rational-expectations equilibrium in intermediate good markets
TL;DR: In this paper, a rational-expectations model of information acquisition and price formation in an intermediate-good market is presented. But the model does not consider the noise trade between producers of one final good and other producers.
Asymmetric Learning from Prices and Post-Earnings-Announcement Drift
TL;DR: In this paper, the authors assume that investors update their beliefs about an asset's value upon observing the price, but only when the price clearly reveals that others obtained private information that differs from their own private information.
2
How important is that footnote on page 3
TL;DR: In this paper, the authors investigated the effect of the autocorrelation in the time series of returns on the calculation of expected shortfall (ES) for an asset-liability investor.
An analysis of the influence of fundamental indexing on financial markets through agent-based modeling: the fundamentalist and fundamental indexing
Hiroshi Takahashi
- 01 Jan 2012
TL;DR: This research analyzes the influence of indices which are employed in the asset management business on financial markets through agent-based modeling and finds that fundamental indexing works as effectively as a price indexing in the market when market prices reflect fundamental values.
2
References
The Market for “Lemons”: Quality Uncertainty and the Market Mechanism
TL;DR: In this paper, the authors present a struggling attempt to give structure to the statement: "Business in under-developed countries is difficult"; in particular, a structure is given for determining the economic costs of dishonesty.
The Existence of Futures Markets, Noisy Rational Expectations and Informational Externalities
TL;DR: In this article, the role of futures markets as a place where information is exchanged and where people who collect and analyse information about future states of the world can earn a return on their investment in information gathering is explained.
360
•Book
General Theory of Employment, Interest and Money
John Maynard Keynes
- 01 Jan 1936
TL;DR: In this article, a general theory of the rate of interest was proposed, and the subjective and objective factors of the propensity to consume and the multiplier were considered, as well as the psychological and business incentives to invest.