Financial reporting and market efficiency with extrapolative investors

DOI10.1016/J.JET.2015.02.009MaRDI QIDQ894056zbMATHOpenAlexFDO

Authors Milo Bianchi, Philippe Jehiel

Publication date 23 November 2015

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

Full work available at URL http://publications.ut-capitole.fr/16706/1/financial_reporting_100215.pdf

zbMATH Keywords

competitionextrapolationefficient market hypothesissophisticationfinancial reporting

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Actuarial science and mathematical finance (91G99)

Recommendations

• Financial Disclosure and Market Transparency with Costly Information Processing*
• The possibility of informationally efficient markets
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Cites work

• A model of focusing in economic choice
• A sparsity-based model of bounded rationality
• An approach to asset pricing under incomplete and diverse perceptions
• Analogy-based expectation equilibrium
• Disclosures and Asset Returns
• Inference by Believers in the Law of Small Numbers
• Information, trade and common knowledge
• On Transparency in Organizations
• Salience theory of choice under risk
• Speculative Investor Behavior in a Stock Market with Heterogeneous Expectations
• Strategic Information Transmission
• The Market for Quacks
• The gambler's and hot-hand fallacies: theory and applications
• The law of large numbers with a continuum of i.i.d. random variables

Cited in

(3)

• Market value of 10-K readability and corporate cash holdings
• The causal effect of improved readability of financial reporting on stock price crash risk: evidence from the plain writing act of 2010
• Financial Disclosure and Market Transparency with Costly Information Processing*

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