Front-Running by Mutual Fund Managers : It Ain't That bad
This paper evaluates the welfare implications of front-running by mutual fund managers. It extends the model of Kyle (1985) to a sitaution in which the insider with fundamentals-information competes against an insider with trade-information and in which noise trading is endogenized.
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|Date of creation:||1996|
|Contact details of provider:|| Postal: U.S.A.; COLUMBIA UNIVERSITY, GRADUATE SCHOOL OF BUSINESS, PAINE WEBBER , New York, NY 10027 U.S.A|
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