On "Acquisition of Information in Financial Markets"
In their paper "Information Acquisition in Financial Markets" (this journal, 2000 ), Barlevy and Veronesi present a model of a one-period financial market, and claim that for an open set of parameter values, the value of information increases with the mass of informed agents. That claim is shown here to be false. The property of strategic substitution is robust in their model. Copyright 2008, Wiley-Blackwell.
Volume (Year): 75 (2008)
Issue (Month): 4 ()
|Contact details of provider:|| |
When requesting a correction, please mention this item's handle: RePEc:oup:restud:v:75:y:2008:i:4:p:1081-1084. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.