Information transmission and the emergence of a peculiar trading facility in certain emerging markets
A peculiar carry over transaction facility has been associated with emerging markets of India and Pakistan. We show that the trading facility can be considered a market response to the information gaps in these markets. Information can be credibly transmitted through this trading facility. Hence, the emergence of such a trading facility is, perhaps, an example of a creative market response to information problems.
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- Danny Ben-Shahar, 2004. "Productive Signaling Equilibria and Over-Maintenance: An Application to Real Estate Markets," The Journal of Real Estate Finance and Economics, Springer, vol. 28(2_3), pages 255-271, 03.
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