Viable allocations of information in financial markets

DOI10.1016/0022-0531(87)90116-5MaRDI QIDQ579102zbMATHOpenAlexFDO

Authors Anat R. Admati, Paul Pfleiderer

Publication date 1987

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/0022-0531(87)90116-5

zbMATH Keywords

financial marketsignalsendogenous information acquisition

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24)

Recommendations

• The possibility of informationally efficient markets
• Information aggregation in a financial market with general signal structure
• Information Acquisition in Financial Markets
• On “Acquisition of Information in Financial Markets”
• The distribution of information and the price efficiency of markets

Cites work

• scientific article; zbMATH DE number 4014390 (Why is no real title available?)
• scientific article; zbMATH DE number 4051296 (Why is no real title available?)
• scientific article; zbMATH DE number 3781344 (Why is no real title available?)
• scientific article; zbMATH DE number 3342731 (Why is no real title available?)
• A Noisy Rational Expectations Equilibrium for Multi-Asset Securities Markets
• A monopolistic market for information
• Further results on the informational efficiency of competitive stock markets
• Information Acquisition in a Noisy Rational Expectations Economy
• Informed Speculation with Imperfect Competition
• On the aggregation of information in competitive markets
• The law of large numbers with a continuum of i.i.d. random variables
• The value of information in a sealed-bid auction

Cited in

(23)

• The speed of information revelation in a financial market mechanism
• Diversification in parametric rational expectations economies
• Financial prices and information acquisition in large Cournot markets
• Information aggregation in a financial market with general signal structure
• Overconfidence and market efficiency with heterogeneous agents
• Does Information Acquisition Alleviate Market Anomalies? Categorization Bias in Stock Splits*
• The distribution of information and the price efficiency of markets
• Information linkages in a financial market with imperfect competition
• Information Acquisition in Financial Markets
• Informational asymmetries and a multiplier effect on price correlation and trading
• Call market book information and efficiency
• Strategic complementarity of information in financial markets with large shocks
• Financial reporting and market efficiency with extrapolative investors
• A statistical test of market efficiency based on information theory
• INFORMATION DYNAMICS IN FINANCIAL MARKETS
• On the revelation of private information in stock market economies
• The value of recommendations
• The time cost of information in financial markets
• On “Acquisition of Information in Financial Markets”
• The tradeoff between risk sharing and information production in financial markets
• Market equilibria with endogenous, hierarchical information
• A monopolistic market for information
• A labor-market approach to understanding information sharing among banks: discussions on: ``A tale of two markets: labor market mobility and bank information sharing

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